GRA Aims for GH₵200 Billion Revenue Target in 2025, Focuses on VAT Compliance
The Ghana Revenue Authority (GRA) has set a GH₵200 billion revenue target for 2025, a goal that Acting Commissioner-General Anthony Sarpong believes is achievable despite challenges.
Speaking at the launch of the 2025 National Economic Dialogue, Sarpong admitted the target appears difficult but emphasized that strategic planning and teamwork will be key to success.
“Indeed, it looks insurmountable on the face of it. But I believe that with determination, the right strategies, and teamwork, we will be able to meet this challenge,” he stated in an interview with ChannelOne TV.
Boosting VAT Compliance to Meet Revenue Target
One of the major strategies for achieving the GH₵200 billion goal is enhancing VAT compliance.
Currently, VAT contributes only 17% of Ghana’s domestic tax revenue, significantly lower than the 50% average in peer economies.
“If we focus on VAT, we should be able to close some of the gap,” Sarpong noted.
Bank of Ghana to Introduce Inflation Control Measures
Meanwhile, the Governor of the Bank of Ghana (BoG), Dr. Johnson Asiama, has announced that the 2025 budget will introduce measures aimed at curbing food inflation, which remains a key driver of overall inflation in the country.
“If the coming budget statement presents a number of measures that can contain food inflation, I am sure we will see a return to the disinflation path,” Dr. Asiama told Bloomberg.
The 2025 budget, expected to be presented in March, will outline specific strategies for revenue mobilization and inflation control, ensuring economic stability and fiscal sustainability.
Source: 3news