The Institute of Statistical, Social, and Economic Research (ISSER) has advised against the immediate removal of Ghana's E-levy and COVID-19 levy, stressing that a sudden repeal could disrupt the country's IMF Programme.
In its State of the Ghanaian Economy Report, ISSER suggests that these levies, which are projected to generate over GH¢5 billion in revenue, be gradually phased out as part of the 2025 budget instead.
Highlighting the significant revenue expected from the E-levy and COVID-19 levy-estimated at GH¢2.1 billion and GH¢3.172 billion respectively-ISSER's report argues for a cautious approach. "Scrap E-levy (GH¢2.1bn), COVID-19 Levy (GH¢3.172bn), Betting Tax - What is the alternative?" the report asks, urging policymakers to consider carefully how and when to eliminate these levies without jeopardising Ghana's commitments under the IMF program.
The recommendation underscores the institute's concern over Ghana's fiscal stability. "These levies should be factored into the 2025 budget but not immediately," ISSER advises, warning that a hasty repeal could derail progress on Ghana's IMF-backed economic recovery plan.