Tema Port rakes in GH¢553.6m…but misses June revenue target

Ghana has missed its June, 2020 import revenue target at the Tema Port by recording a shortfall of 45.02 per cent, a monthly revenue performance report compiled by the Ghana Revenue Authority (GRA) Customs Division has revealed.

The monthly report released on July 1, 2020, and sighted by this paper revealed that for the month of June 2020, the revenue target at the Tema port was 

GH¢1, 006,880,000.00 but the total revenue raised was only GH¢553, 566,898.06 representing a shortfall of GH¢453, 313,101.94.

Breaking down the variance for the month under review, the report explained that for import duty for instance, the actual revenue target was GH¢528, 480,000.00 but the actual figure collected was just GH¢288,954,906.99,  meaning there was a variance of GH¢239,525,093.01.

For import VAT, the revenue target was GH¢347, 740,000.00 but the actual revenue collected was GH¢190, 969,135.99 meaning representing a reduction of GH¢159, 770,864.01.

According to the report, for import NHIL, the revenue target was GH¢65, 330,000.00 but the actual revenue collected was GH¢C36, 373,614.84, representing a reduction of GH¢28, 956,385.16.

And then with the GET Fund, the target was GH¢65, 333,000.00 but only GH¢37, 269,240.24 and the variance was GH¢28, 060,759.76.

A source at the GRA attributed the shortfall to the challenges associated with the implementation of ICUMS at the port.

In a related development, a source within the Finance Committee of Parliament has hinted that the Committee had been monitoring the situation at the port especially with revenue mobilisation and would soon invite the GRA Customs Division to come before it to brief the committee.


Caption: Tema Port

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