Skip to main content

GRA targets eight million new taxpayers to boost domestic revenue

 


The Ghana Revenue Authority (GRA) is embarking on an ambitious plan to bring eight million new taxpayers into the national tax net as part of a major drive to widen the country’s revenue base and strengthen domestic mobilisation efforts.

The initiative aims to expand Ghana’s current taxpayer population estimated at 19 million through two flagship programmes: the Sustained Tax Education Programme and the Modified Taxation Scheme (MTS).

The GRA projects that successfully onboarding the additional taxpayers could yield up to GH¢40 billion in extra domestic revenue over the next few years.

Speaking at the launch in Accra, Commissioner-General of the GRA, Anthony Kwasi Sarpong, described the new measures as one of the Authority’s most significant revenue expansion strategies in recent times.

He emphasised that the reforms are designed to simplify tax compliance, particularly for informal sector operators, and ensure long-term fiscal stability.

The Modified Tax Scheme has huge potential. Our analysis shows that if we are able to bring at least two million new taxpayers into the net each year, we can significantly increase domestic revenue and support national development,” Sarpong said.

He added that the informal sector estimated to include about eight million economically active individuals and businesses presents the largest opportunity for expanding the tax base.

Under the first phase of the rollout, the GRA plans to enrol two million new taxpayers annually over the next three years, before scaling up further in the second phase.

The Authority believes the combination of simplified tax processes, improved education, and digital tools will encourage voluntary compliance and reduce revenue leakages.

Sarpong noted that the expected revenue boost will be crucial for funding priority government programmes and reducing Ghana’s reliance on external borrowing.

The GRA has urged the public, private sector partners, and civil society groups to support the effort to modernise the tax system and build a more sustainable domestic revenue framework

Comments

Popular posts from this blog

Fitch Solutions retains 2025 growth rate projection at 4.2%

 Fitch Solutions has reaffirmed its projection that Ghana’s economy will expand by 4.2% in 2025. This estimate slightly exceeds the International Monetary Fund’s forecast of 4% and the World Bank’s projection of 3.9%. The UK-based research firm attributes its outlook to historically high gold prices, which are expected to cushion the Ghanaian economy against a global slowdown triggered by rising tariffs. Higher gold prices are anticipated to strengthen government revenue, enhance foreign exchange earnings, and help sustain currency stability. The report also highlights that Ghana is relatively less vulnerable to increasing trade restrictions from the United States, given that its primary exports—gold and crude oil—are not directly affected by the tariffs introduced by President Trump’s administration. Moreover, the US constitutes only about 4% to 5% of Ghana’s total exports. In contrast, Ghana’s trade relations are more heavily oriented toward China and European countries, particul...

BoG injects $20m into FX market to support 11 BDCs

  The Bank of Ghana (BoG) has injected $20 million into the foreign exchange market in the latest round of its forward FX auction targeted at Bulk Oil Distribution Companies (BDCs). The intervention, which benefited eleven BDCs, is part of the central bank’s broader strategy to stabilise the cedi and ensure price stability in the petroleum downstream sector. Held on Tuesday, April 29, the auction was priced at a locked exchange rate of GHS 14.28 to the US dollar, with bid offers ranging from GHS 13.85 to GHS 15.55. This move reflects the BoG’s continued effort to deepen forex liquidity and safeguard the domestic fuel supply chain against volatility in global energy markets. By directly supplying FX to BDCs, the central bank seeks to ease pressure on the interbank market, guarantee the uninterrupted flow of petroleum products, and mitigate the pass-through effects of exchange rate fluctuations on fuel prices. The $20 million disbursement forms part of a $120 million programme for th...

Kenpong Travel & Tours Champions Breast Cancer Awareness During Customer Week

  As part of activities to mark Customer Week, Kenpong Travel & Tours, a leading travel agency in Ghana, is joining the global fight against breast cancer. October is Breast Cancer Awareness Month, and the company is passionate about spreading hope and support to those affected. At Kenpong Travel & Tours, we believe that travel and exploration can be therapeutic and empowering. That's why we're committed to supporting our customers and the broader community in the fight against breast cancer. We're proud to stand in solidarity with breast cancer warriors and survivors. At Kenpong Travel & Tours, we believe that everyone deserves a chance to explore the world and create unforgettable memories. Let's prioritize health, support one another, and fight against breast cancer," said Kennedy Agyapong, CEO of Kenpong Travel & Tours. Our efforts are focused on raising awareness, promoting early detection, and supporting those affected by breast cancer. We urg...