Emmanuel Kofi Nti, the new Commissioner-General of the Ghana Revenue Authority (GRA), says the country’s total revenue was up by $100 million last year.
He said in 2012, GH¢11.64 billion, equivalent of $6.19 billion, was collected while in 2016 $6.29 billion, representing an increase of $100 million, was realized.
Mr. Ntim, speaking at the farewell ceremony for George Blankson, the outgoing Commissioner-General of GRA, disclosed that the country recorded a shortfall in its revenue collection between 2012 and 2016.
“When we take out the $380 million from the Special Petroleum Revenue, then it means that between 2012 and 2016, there was a revenue shortfall, we fell in our revenue.”
He said that revenue in Cedis terms had gone up but in dollar terms had been about the same.
The GRA boss stated that revenue is key to building a nation, indicating that GRA staff must “work together to improve our revenues so that the dreams that the state has may be achieved.”
Mr. Ntim added: “We are good, we can be better while aiming at the best, without revenue all the lofty dreams of President Nana Akufo Addo would be a mere mirage.”
While commending his predecessor for being able to hold the Internal Revenue Service (IRS), VAT Service and the Customs together as a unit, he tasked GRA staff to work as a team in order to double revenue of the country.
He said in three years Mr. Blankson was able to double revenue.
Mr. Blankson, on his part, stated he was handing over to a team that would see “revenue growing at an increasing rate and show a positive outlook in the years ahead.”
He contended that the incoming Commissioner-General brings to the table a wealth of experience in tax policy, banking and audit.
A Tax policy advisor Kofi Nti was a staff of the Ministry of Finance during the previous Kufuor administration.
Mr Nti, who is a banker, economist, statistician, accountant and tax expert with experience spanning over 30 years, holds a combined Bachelor of Arts Degree in Economics and Statistics from the University of Ghana and a combined Master’s degree in Economic and Financial Forecasting from the London Metropolitan University.
He is a Fellow of the Institute for Fiscal Studies, Ghana; Fellow of the Association of Chartered and Certified Accountants (ACCA); United Kingdom and member of Chartered Institute of Taxation, Ghana.
He started his career as an economist with the Bank of Ghana (BoG) where he worked in the Development Finance, Rural Banking, Banking Supervision and the Treasury Departments.
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