The Ghana Revenue Authority (GRA) aims to collect GHS 260 billion in revenue by 2028. This target represents more than double the GHS 130 billion collected in 2024. Commissioner-General Anthony Kwasi Sarpong stated that business and industry growth will be crucial for achieving this goal.
The GRA seeks to improve tax compliance and create a more predictable environment for businesses. Mr. Sarpong made these remarks at the AGI 2026 Industrial and Exhibition Summit. He stressed the need for stronger collaboration between the tax authority and the private sector. This partnership aims to support Ghana’s industrialisation and domestic revenue mobilisation efforts.
This ambitious revenue target aligns with Ghana's ongoing efforts to strengthen its fiscal position. Increased domestic revenue is vital for reducing reliance on borrowing and funding critical public services. The government has consistently pushed for improved tax collection to manage its debt burden and invest in development projects. Previous years have seen various initiatives to expand the tax net and enhance collection efficiency, reflecting a sustained focus on fiscal consolidation.
Mr. Anthony Kwasi Sarpong, the Commissioner-General of the GRA, explained the strategy. He said, “When your business grows, the nation can collect more without raising a single rate.” He added that the interests of the GRA and the business community are closely aligned. “GRA succeeds when Ghana’s industries succeed,” Mr. Sarpong stated, underscoring the symbiotic relationship.
Achieving this substantial revenue increase will have significant implications for Ghana’s economy. Higher tax collections could lead to greater fiscal space for government spending on infrastructure, healthcare, and education. It could also improve Ghana's credit ratings, potentially lowering borrowing costs in international markets. Businesses will need to adapt to stricter compliance measures and potentially expanded tax obligations. The GRA's focus on predictability and simplification aims to mitigate potential negative impacts on business operations. Investors will closely watch the GRA's progress, as consistent revenue growth signals economic stability and effective governance.
The Authority’s strategy focuses on broadening the tax base. It also aims to improve predictability in the tax system. Simplifying rules and using digitisation are key to improving efficiency and compliance. The GRA is implementing legal and technological reforms. These reforms aim to make tax administration more efficient and responsive to business needs. The GRA collected GHS 182 billion last year and targets GHS 225 billion in 2026. The Authority is currently on course to meet its 2026 target, indicating positive momentum.
The push for digitisation includes initiatives like the rollout of Fiscal and Accounting devices. These devices are designed to improve VAT compliance. Reports indicate that 6 out of 10 businesses are not complying with tax obligations. This highlights the scale of the challenge and the potential for increased revenue through better enforcement. Deliberate VAT evasion will attract penalties, signaling a stricter stance from the GRA. Businesses with a turnover above GHS 750,000 must register for VAT, further expanding the tax base. These measures collectively aim to create a more equitable and efficient tax system, crucial for sustained economic growth.