Finance Minister-designate, Dr. Mohammed Amin Adam, has cautioned that Ghana could face serious challenges if it does not meet certain tax obligations required to meet targets set by the International Monetary Fund (IMF).
He has urged the Ghana Revenue Authority (GRA) to proactively address any gaps to ensure revenue generation.
During an engagement with the Commissioners of the Authority, Dr. Amin Adam emphasized that revenue mobilization is a critical priority for the government.
Despite this, he commended the GRA for surpassing the revenue target for 2023.
“Commissioner-General, this institution continues to perform admirably well. Last year, you managed to exceed the revenue target. Although the public seems to question the framework for target setting, I congratulate you on this achievement.”
“However, this achievement also reveals the depth of potential to be optimised. This view is also shared by the wider public. Achieving and exceeding the targets is also critical to the success of the IMF-Extended Credit Facility (ECF) Programme. We cannot afford to miss our commitments programme”, he stressed.
Dr. Mohammed Amin Adam emphasized the crucial role of the Ghana Revenue Authority (GRA) in supporting Ghana’s IMF program for 2024.
“Commissioner-General, I take this opportunity to reiterate to you and your team the three key commitments you made under the programme for 2024: cleaning of the GRA taxpayer register by end-June 2024, complete data migration from all existing portals to the ITAS, operationalize the major modules (registration, returns filing and payments) in the system (and processes needed to be completed prior to that) by end December 2024”, he added.
The finance minister also announced plans to collaborate with the GRA through a structured framework to surpass the GH¢145 billion revenue target set in the 2024 Budget.