Companies in Ghana owe Ghana Revenue Authority GHC5 billion according to the Board Chair, Prof Stephen Adei

Companies in Ghana owe the GRA to the tune of GHC5billion.
According to Prof Adei, they are developing measures to retrieve all the money.
He said they would not widen the tax net but rather collect what is owed them.

The Board Chair of the Ghana Revenue Authority (GRA), Professor Stephen Adei, has disclosed that many companies in Ghana owe the GRA to the tune of GHC5billion.

In an interview with Accra-based Joy FM, Prof Adei said the GRA is developing measures to retrieve the amount of money owed by the companies.

He said that this will help the GRA meet its domestic revenue target given to it by the GRA.

“Right now there are companies and individuals certified who are owing GRA GHC5billion and the budgetary gap is GHS3.4 billion.”

“So this is not somebody being asked to pay more taxes. It is those who have been found to owe money that are to be paid,” he added.

Meanwhile, the GRA has revealed that as at the end of September 2019, the company received an amount of $5.9 billion (GH¢32 billion) as at the end of September this year.

This represents a 70% revenue of the GHC45 billion target set for this year.

The Acting Commissioner-General for the Ghana Revenue Authority (GRA), Amishaddai Owusu Amoah said this while he spoke to the Ghana News Agency in Accra.

According to him, the company is confident of meeting the 2019 revenue target since they have collected more than 70% of the target set for this year.