July 30, 2021

Government collects GHS28.3 billion in 1st half of 2021; misses target by 13%

Government has missed its half-year revenue target by about 13%.

Total Revenue and Grants from January to June this year amounted to GHS 28.3 billion as against a programed amount of GHS 32.4 billion.

The government performed better on the expenditure front as it fell short of its programmed amount by about GHS 5 billion, spending GHS50.6 billion, against a programmed target of GH¢55.1billion.

This was captured in the Mid-Year budget review presented by the Minister of Finance Ken Ofori-Atta in Parliament on Thursday.

The Minister reiterated governments’ commitment to collect what is due the Republic while blocking all revenue loopholes using the Revenue Assurance and Compliance Enforcement (RACE) program.

“Our focus on taxes is to collect what is due the Republic. To this end, we are building a robust framework to expand Domestic Revenue Mobilisation to focus on compliance and enforcement nationwide. We have established the Revenue Assurance and Compliance Enforcement (RACE). The remit of RACE is to identify and eliminate revenue leakages in areas such as petroleum bunkering, gold and minerals export, port operations, transit goods, warehousing, border controls and free zones operations, to name but a few.”

 

 

 

 

 

 

 

 

Post: citibusinessnews.com

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