Dr John Ampontuah Kumah, Deputy Finance Minister has reacted 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.
In a long post, Dr John Kumah said the high CAGD revenue figure is a result of the balance brought forward from previous years whilst the GRA reports are only revenues generated in that fiscal year.
According to him, the difference in data generated by different agencies does not necessarily indicate any loss of revenue. It is in 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.
Read the FULL post below.
Hon. Dr John Ampontuah Kumah, Deputy Finance Minister writes
GH¢ 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 a result of the balance brought forward from previous years whilst the GRA reports are only revenues generated in that fiscal year.
The difference in data generated by different agencies does not necessarily indicate any loss of revenue. It is in 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 as this is reconciled to arrive at the same position at the end of the year.
Differences 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 the end of 2021, the data from the various Agencies were fully reconciled.
No revenue is missing and anyone who needs further information may contact the Ministry.
