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25.04.2007 General News

IRS first quarter results up 10 percent

By myjoyonline

The Internal Revenue Service says its First Quarter result for 2007 went up by 10 percent in the heat of the energy crisis.

According to the IRS it collected more than 1.8 trillion cedis instead of the projected 1.69 trillion for the first three months of the year.

The service expects to collect some 8.8 trillion cedis in revenue by the end of the year.

In an interview with Joy business report, the Commissioner of the IRS Major rtd Daniel Ablorh-Quacoo explained that the load shedding exercise did not affect revenue collection in the First Quarter of the year.

He was however worried the target for the year might be affected if the power crisis persists longer, and expressed the hope that the Service's focus on covering untapped areas into the tax net will make for the losses.

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