- February 22, 2019
- Posted by: noye
- Category: Uncategorized
- In 2018, the GRA did not meet its overall target of raising GHc46.8 billion in tax revenue.
- The Ghana Revenue Authority is putting in measure to realise its tax revenue target of GHc58.9 billion in the 2019.
- One of the many measures is to have service professionals issue tax receipts for services rendered.
The Ghana Revenue Authority (GRA) is putting measures in place to raise taxes from professional service activities in a bid to meet its 2019 tax targets.
The government of Ghana has set a tax revenue target of GHc58.9 billion in the 2019 budget. This is about 25.9 percent higher than the GHc46.8 billion targeted in the 2018 budget.
Domestic revenue estimated at GHc57.8 billion is expected to be raised from domestic sources and subunits.
To meet the tax revenue target, the Commissioner-General of the Ghana Revenue Authority (GRA), Emmanuel Kofi Nti, said that service activity professional which include lawyers, doctors, engineers, and others will soon have to issue tax receipts for services rendered and charged for.
GRA believes this will ensure that service providers pay the state what it is due.
Some professionals in Ghana often avoid paying the appropriate taxes on the income they receive for the services they render, especially on services rendered to micro-enterprises, households, and individuals who do not maintain formal accounts.
The GRA plans to curb this so it can help them meet their target in 2019.
In 2018, the GRA did not meet its overall target of raising GHc46.8 billion.
The Finance Minister Ken Ofori-Atta said the tax compliance law must be enforced. He added that defaulters must be prosecuted so it serves as a deterrent to other people.