A-G Report: Ministry Of Finance Says ₵3.26 Billion Tax Money Isn’t Missing

The Ministry of Finance has stated that the discrepancies in the tax revenue reported by the Ghana Revenue Authority (GRA) and the Controller and Accountant General’s Department (CAGD) do not amount to pilfering.

“Let me refute this allegation of possible missing funds as this publication sort to communicate, as baseless and untrue”, the Deputy Minister for Finance, John Kumah said in a statement referencing a news item purporting that the amount in question is missing.

He explained that “the high CAGD revenue figure is as a result of balance brought forward from previous years whilst the GRA reports are only revenues generated in that fiscal year.

“The difference in data as generated by different agencies does not necessarily indicate any loss of revenue. It is in the light of this that the government has put in place a committee at the Ministry of Finance that reconciles on a monthly basis revenue data at GRA, CAGD and the BoG.

“I also wish to indicate that the primary source of revenue data is the GRA. Both CAGD and BoG record revenues lodged in government accounts. It is therefore important that we appreciate that audit of government accounts uses different data sources and for that matter difference in data at each point in time is acceptable.

“Difference may again occur if the data is either on pure cash or modified cash. BoG only records the pure cash whilst GRA reports modified cash. The Auditor General has been supplied with all the information which fully explains why occasional differences may occur. And importantly, by end 2021, the data from the various Agencies were fully reconciled.”

An audit report found a total tax revenue of GH¢57.43 billion at the GRA while the records of CAGD found a total tax revenue of GH¢60.69 billion creating a difference of GH¢3.26 billion.

Below Is The Full Statement:

GHC 3.26 Billion tax money not missing
My attention has been drawn to a publication alleging that the Auditor General’s report for 2021 has unravelled differences in total revenue for 2021 as reported by the GRA, Controller and Accountant General and the Bank of Ghana.
Let me refute this allegation of possible missing funds as this publication sort to communicate as baseless and untrue. The high CAGD revenue figure is as a result of balance brought forward from previous years whilst the GRA reports are only revenues generated in that fiscal year.
The diffence in data as generated by different agencies does not necessarily indicate any loss of revenue. It is in the light of this that the government has put in place a committee at the Ministry of Finance that reconciles on a monthly basis revenue data at GRA, CAGD and the BoG.
I also wish to indicate that the primary source of revenue data is the GRA. Both CAGD and BoG record revenues lodged in government accounts. It is therefore important that we appreciate that audit of government accounts uses different data sources and for that matter difference in data at each point in time is acceptable.
Difference may again occur if the data is either on pure cash or modified cash. BoG only records the pure cash whilst GRA reports modified cash. The Auditor General has been supplied with all the information which fully explains why occasional differences may occur. And importantly, by end 2021, the data from the various Agencies were fully reconciled.
No revenue is missing and anyone who needs further information may contact the Ministry.

Source: opemsuo.com/Hajara Fuseini