Demolishing of Kotokuraba Market affected revenue collection – GRA

The Small Taxpayer Office (STO), of the Ghana Revenue Authority (GRA) in Cape Coast failed to meet its revenue target of GH¢8,762,654.39 for 2016.    

The Authority fell below its target by 9.54 percent, which, therefore, puts the revenue collected last year at GH¢7,926,631.93.   

Similarly, the Medium Taxpayer Office (MTO), also failed to meet its revenue target as it collected a tax of 26,337,932.01 as against a targeted revenue of 27,785,243,26.00 in 2016.    

This, the GRA attributed to the delay in the completion of the Kotokuraba market to accommodate market women displaced by the construction of the market.   

Speaking at a press soiree in Cape Coast, Mr Emmanuel Kudzo Akpaku, Head of STO, said the demolishing of the Kotokuraba market and the inability to complete the market as scheduled had adversely affected revenue collection in the metropolis.   

However, he revealed that revenue collected last year was 16.46 per cent above the figure realised in 2015.   

He added that with “Dumsor” and Government’s inability to pay most constructors and suppliers and the new rate of PAYE were also contributed to why the Authority failed to meet its target.   

Mr Akpaku was however, optimistic that with the number of revenue enhancement measures being undertaken, the Authority would be able to rake in more revenue for the country.   

He said the Authority intended to review tax files to identify debts for collection, increase audit measures and increase public tax education in order to enhance voluntary compliance by clients.  

Mr Philip Apawu, Head, MTO urged taxpayers to register for a new Taxpayer Identification Number (TIN) or risk not being able to transact business with a government entity, financial establishment or manufacturing companies  

He admonished taxpayers to follow due procedures and keep proper record of their transactions with the Authority.

Source: GNA