Thomas Nyarko Ampem is the Deputy Minister of Finance
The Deputy Minister of Finance, Thomas Nyarko Ampem, has 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.
The Deputy Minister of Finance noted that the decision aims to fulfill the campaign promises the National Democratic Congress (NDC) made during the 2024 general elections to alleviate the burden on Ghanaians.
Speaking in an interview with Channel One TV, Ampem emphatically assured the public that the betting 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,” he said.
Ampem further noted that the government will devise ways to generate revenue to compensate for the revenue loss.
“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.
This affirmation comes after Minister of Finance, Dr. Cassiel Ato Forson, assured the public during his ministerial vetting that scrapping the betting tax would be one of his first acts in office.
The first budget reading in the President Mahama-led government will be read on March 11, 2025.
Meanwhile watch as Ghanaians debate the appointment of Jordan Ayew as Black Stars captain below
SB/EK
