The Civil Society Organisation (CSO) Budget Forum has outlined several revenue considerations for the government ahead of the presentation of the 2025 budget on March 11, 2025.

These recommendations aim to help the government generate sufficient revenue to offset expected shortfalls arising from the abolition of the E-Levy, betting tax, and COVID-19 levy.

According to tax experts, the repeal of the COVID-19 Levy and the E-Levy (excluding the betting tax) will result in an estimated revenue loss of GH¢7.7 billion.

To address this, the CSO Budget Forum has proposed the following revenue-enhancing measures:

• Aggressive taxation of high-net-worth individuals through a structured approach to taxing professional bodies.

• Intensified e-commerce taxation by the Ghana Revenue Authority (GRA).
Expansion of property taxation to increase revenue from real estate holdings.

• Increase in the personal income tax allowance from GHS 402 to GHS 900.
Quarterly cost-benefit analysis of tax exemptions to evaluate their impact on revenue generation.

• Increase in equity stakes in natural resources, with financing sourced through the Mineral Income Investment Fund (MIIF).

• Mandatory payment of capital gains tax at the point of asset realisation to prevent revenue leakages.

Fiscal consolidation measures

Beyond revenue generation, the CSO Budget Forum has also recommended fiscal consolidation measures to enhance economic stability:

• Establishment of an Independent Fiscal Council to oversee economic policies and ensure prudent fiscal management.

• Adoption of a National Debt Accounting Standardisation framework.

• Deeper expenditure cuts, including a reduction in the size of government, streamlining flagship programmes, rationalising emoluments, and cancelling ex-gratia payments.

• Strengthening corporate governance, reporting, and the viability of State-Owned Enterprises (SOEs).

• Implementation of the abolition of the E-Levy, COVID-19 levy, and betting tax as promised.

• Enhancement of import substitution measures to mitigate the impact of the cost-of-living crisis.

SP/MA