Revenue Generation In Ghana

On the national front since the 1980s ghana has adopted several reforms to improve its revenue generation capacity to fund its developmental activities.

Revenue generation in ghana. The areas under which the literature covers are the system of the local government in ghana legal framework institutional arrangement and the role of institutions in respect of revenue generation and management of these revenues and their sources. The following points highlight the nine main sources of government revenue. A simple hypothesis was formulated in the null form which states that there is no significant relationship between tax revenue and ghana s gdp. Tax revenue is made up of direct taxes indirect taxes and taxes collected by the customs division.

Government revenues in ghana increased to 4458 67 ghs million in september from 4452 16 ghs million in august of 2019. Bearing in mind that the whole concept of local government was imported for implementation in. Ghana discovered oil in 2007 and the country expects about 1 billion us dollars as revenue from the oil and gas exploration in respect of royalties income tax and interest payment with an anticipated unit price of 60 us dollars a barrel per day. This has been on the increase but more is need to reduce the deficit of ghana.

The western regional minister mr kwabena okyere darko mensah has tasked mmdas to adopt innovative strategies to boost revenue generation and collection in the post covid 19 pandemic era. The ghana revenue authority gra in collaboration with the ghana union of traders association guta is to carry out sustained nationwide tax education programmes to ensure voluntary compliance. This page provides the latest reported value for ghana government. Fine and penalties 7.

Government revenues in ghana averaged 2671 32 ghs million from 2012 until 2019 reaching an all time high of 6619 58 ghs million in december of 2018 and a record low of 1036 69 ghs million in april of 2012. However revenue generation by communities dates back to 1986 when central. Ceded to the district assemblies. Mr edward gyambrah acting commissioner domestic tax revenue division said the strategic partnership with guta would enable the gra to realise its.

Chronologically tax reforms have been categorized into three phases namely restoring the tax base strengthening production incentives and the final stage which has focused on enhancing. Gifts and grants 8. Surplus of the public sector units 6. A tax is a compulsory.