GRA must develop strategies to boost revenue amid fuel tax suspension — Prof Boadi

The Dean of the Faculty of Accounting and Finance at the University of Professional Studies, Accra (UPSA), Professor Isaac Boadi, has urged the Ghana Revenue Authority (GRA) to introduce stronger measures to increase revenue mobilisation.

His call comes in the wake of government’s suspension of some petroleum taxes aimed at easing pressure on consumers following rising fuel prices linked to geopolitical tensions in the Middle East.

The decision, taken at a cabinet meeting on Thursday, April 9, has been widely welcomed by consumers, but concerns are emerging over its impact on state revenue targets.

Speaking on Accra-based JoyNews’ AM Show on Friday, Prof Boadi said the country may miss its revenue benchmarks if compensatory measures are not introduced.

“I am a bit worried. I don’t think they have met the threshold, the target for the period,” he said.

The finance expert noted that even though the tax relief measures may ease the burden on citizens, they also create a fiscal gap that must be addressed.

“So if you flip the coin, the other thing is that when you keep giving us these subsidies and the rest, what happens to the other side of the equation, how are you going to also get revenue to meet your expenditure demands?” he questioned.

Prof Boadi stressed that sustainable public finance requires balancing relief measures with effective revenue mobilisation systems.