L-R: Dr. Ato Forson, Opare Addo and Thomas Ampem
President John Dramani Mahama‘s pledge to scrap the Betting Tax during the 2024 general election campaign was met with mixed reactions from some stakeholders.
However, this message was well received by the youth, many of whom are involved in sports betting, knowing this move would mean the 10% deduction on their winnings will be scrapped.
Despite warnings from business stakeholders and other experts, some government officials have vowed that the Betting Tax will be removed.
Here are some government officials who have pledged that the betting tax will be scrapped in the budget reading to be held on March 11, 2025, in Parliament:
The Minister of Finance, Dr. Cassiel Ato Forson, guaranteed that abolishing the Betting Tax will be one of his first actions in office.
He clarified that removing the Betting Tax will not have a dire impact on the Ghanaian economy, considering the revenue it generates for the government.
During the ministerial vetting in Parliament on January 13, 2024, Ato Forson described the Betting Tax as a nuisance and assured the public that it will be scrapped.
“That tax [betting] will not solve the problem because I have read several articles suggesting that it is destroying our youth. To introduce a tax, you must consider the elasticities and whether imposing such a tax will prevent individuals from engaging in betting, but it has not achieved that goal.
“I insist that this tax must be abolished. As Minister of Finance, I will abolish the Betting Tax in my first budget,” he said.
Thomas Nyarko Ampem
The Deputy Minister of Finance reiterated that the government will scrap the Betting Tax as President John Dramani Mahama promised during the campaign period.
He indicated that the Betting Tax, coupled with other nuisance taxes, including the Electronic Transaction Levy (E-Levy), would be canceled accordingly.
Speaking in an interview with Channel One TV, Ampem emphatically assured the public that the tax would be removed, possibly in the March 2025 budget reading.
“The President has made it clear that he will deliver on the promises he made to Ghanaians. That includes removing the E-levy and betting tax.
“The medium-term revenue strategy estimates that we have a 61% VAT gap, meaning we are collecting only 39% of our potential VAT revenue. By improving tax collection, we can make up for the revenue shortfall from removing these levies,” he added.
George Opare Addo
The Minister of Youth Development and Empowerment assured the public that the Betting Tax will be abolished during the 2025 budget reading.
He stated that the National Democratic Congress (NDC) government are committed to fulfilling the promises made during the campaign and will not disappoint Ghanaians.
Speaking in an interview with JoyNews, Opare Addo said that President Mahama’s appointees are working diligently to ensure the president’s ambitions are attained.
“Everybody is committed to meeting the target of His Excellency President Mahama. When the budget is read in March 2025, all the promises we made regarding tax cancellations will be implemented, and young people should look forward to the cancellation of the Betting Tax,” he noted.
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