The Ghana Revenue Authority (GRA) has expressed strong confidence in achieving its GH¢225 billion revenue target for 2026, even amid fears that recent tax reforms might cause shortfall
Concerns have mounted over the scrapping of certain COVID-19 levies and a drop in the effective Value Added Tax (VAT) rate from 21.9% to 20%, coupled with a higher VAT registration threshold, potentially denting government coffers.
After briefing Parliament’s Public Accounts Committee, GRA Commissioner-General Anthony Sarpong told journalists that the agency is implementing safeguards to safeguard revenue while passing benefits to consumers. Early signs indicate businesses and Ghanaians are embracing the new VAT system.
“We believe that the reforms have been taken well by businesses and Ghanaians,” Mr. Sarpong stated. He noted that field visits to markets and major shops last week confirmed widespread compliance with the updated requirements.
The changes are already easing burdens on households returning nearly GH¢6 billion through levy abolitions without derailing revenue goals, he added. The GRA plans to ramp up enforcement and education to embed these reforms.
“We’re going to continue with the compliance and enforcement to ensure that these reforms stick,” he said. “At the same time, we will ensure that we use the VAT tax type to raise the needed revenue to support the government’s agenda for 2026 and beyond.”
Mr. Sarpong dismissed revenue loss worries, reaffirming the GRA’s commitment to its core mandate. “The annual target announced by the minister in the 2026 budget is GH¢225 billion. We at the GRA are poised to make sure that right from the beginning of this year, we are working effectively to deliver on this revenue mobilisation.”
Revenue remains essential to national progress and the president’s vision, he emphasized, with the GRA aiming not just to hit but surpass the target to fuel government priorities.
Story by: Mercy Addai Turkson #ahotoronline.com