Credit: Kekeli K. Blamey
A recent pre-budget survey by KPMG has sounded a warning to the government about the potential revenue implications of abolishing the Electronic and Covid-19 levies.
According to the survey, scrapping these levies in the 2025 budget would result in a staggering revenue loss of GH¢6.4 billion.
The survey’s findings highlight the need for careful consideration of the revenue measures proposed in the budget.
KPMG notes that technology can play a key role in enhancing revenue collection, particularly in areas such as property rate administration and taxation of digital and e-commerce sectors.
To mitigate the potential revenue loss, the government is being advised to focus on initiatives that promote economic growth and job creation.
This includes supporting industries that thrive in a 24-hour economy, such as manufacturing, transport and logistics, healthcare, retail and hospitality, and digital services.
The survey’s respondents are optimistic that the new administration’s policy initiatives in the budget can help drive economic recovery.
However, they also caution that careful planning and execution are necessary to ensure that the budget measures achieve their intended objectives.
