ADDRESS BY THE HON. MINISTER FOR FINANCE, DR. CASSIEL ATO FORSON, AT THE INAUGURATION OF THE GHANA REVENUE AUTHORITY BOARD!
1. It is a distinct honour to preside over the swearing-in of the Chairman and Members of the Governing Board of the Ghana Revenue Authority (GRA).
2. I extend my heartfelt gratitude to His Excellency, President John Dramani Mahama, for appointing this distinguished team of esteemed and accomplished individuals—each bringing a wealth of experience, expertise, and a proven track record—to serve on the GRA Board.
3. As we inaugurate this Board today, it is important to acknowledge the enormity of the task ahead. You assume this mantle at a time when the government faces significant fiscal constraints, underscoring the urgent need to bolster domestic revenue mobilisation efforts.
4. The financing conditions are tight, our access to the capital market is practically non-existent following the debt restructuring programme, and the treasury bills currently remains the main instrument for raising debt from the domestic market
5. In addition, both project and programme grants from development partners have significantly reduced given today’s era of poly crisis.
6. This makes optimizing domestic revenue mobilization the number priority of our fiscal objective for 2025 and the medium-term.
7. We are embarking on a fiscal consolidation objective of improving the primary balance on commitment basis from a deficit of 3.9% of GDP to a surplus of 1.5% in 2025 and beyond. An integral part of this strategy is domestic revenue mobilization.
8. Indeed, on yearly basis, we have programmed to add on at least 0.6 percentage points of GDP to our revenue collection, with the view to ensuring that we do not only meet our fiscal target of primary surplus of 1.5% of GDP, but also our debt sustainability target of reducing the external debt service to revenue ratio from 28% in 2022 to 18% by 2028.
9. The recent withdrawal of USAID funding alone has impacted over US$78 million in health and US$156 million in economic growth and education programmes. These developments underscore the imperative to enhance domestic revenue mobilisation
10. To achieve our revenue objectives, Several key areas require our collective attention and urgent action: • Accelerating the Modernisation of the Ghana Revenue Authority:This entails not merely upgrading systems but transforming GRA’s operational efficiency.A modern, efficient, and automatated GRA will facilitate tax collection, minimise opportunities for avoidance, and significantly enhance the taxpayer experience.
Building a Culture of Integrity:The Ghanaian public must have unwavering confidence in GRA’s commitment to fairness and ethical conduct. Corruption and fraud must be eradicated, as every cedi lost represents a missed opportunity for national development. • Revenue lost through corruption translates to unbuilt schools, unpaved roads, and lives adversely affected by inadequate healthcare, unsafe drinking water, and poor sanitation. • We must uphold the highest standards, rooting out unethical behaviour at all levels, and exemplify transparency, accountability, and service to the nation. • Combating Smuggling: Smuggling poses a significant threat to our tax administration, local industries, and economic sovereignty.
It depletes tax revenue, undermines local industries, and exports jobs that should remain in Ghana. • This economic injustice and national security threat must be addressed decisively through stronger enforcement, enhanced intelligence, and close collaboration with other agencies. •
Reforming Internal Operations: There is an urgent need to amend aspects of GRA’s human resource management policy to mandate the rotation of officers after two years in a given position. • This strategic measure aims to reduce the risk of collusion, broaden professional experience, and ultimately strengthen staff development and organisational performance.
Fostering Collaboration with the Ministry of Finance: I urge the Commissioner-General and GRA management to work closely with the Revenue Policy Division of the Ministry of Finance. • As a policy unit, they offer relevant research and innovative ideas that can enhance your work and yield better outcomes. • As Minister for Finance, I am committed to supporting GRA in fulfilling its mandate. My doors remain open to feedback, new perspectives, and strategies that advance the work of both the Board and Management. • I will be signing a performing bonus MOU with the Commissioner-General of GRA to be witnessed by the Commissioner Domestic Tax and Commissioner Customs.
20. Mr. Chairman, Board Members, and Management of GRA, this is a defining moment.
21. We possess the tools, talent, and vision to build a revenue authority that delivers for Ghana. Let us remember that every tax cedi collected—and every integrity-driven decision made—brings us closer to building the prosperous, inclusive, and self-reliant Ghana We All Want Together.
22. In conclusion, on behalf of President Mahama, I extend heartfelt congratulations and profound appreciation for accepting this nomination.
23. As you embark on this responsibility, let us reflect on the critical role each of us plays in our national development.
24. I hereby declare the Board of the Ghana Revenue Authority formally inaugurated.
Source:Mybrytfmonline.com
