Dr. Cassiel Ato Forson has reiterated that betting tax will be scrapped
Minister-designate for finance, Dr. Cassiel Ato Forson, has guaranteed that abolishing the betting tax will be one of his first actions in office.
According to him, the argument that betting promotes immorality among the youth is unjustified, as its introduction has not achieved this goal.
Ato Forson 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 clarified.
Ato Forson added that removing the tax will not hurt the nation’s economy.
“Scrapping the tax doesn’t mean we don’t care about revenue; we do. The betting tax generates less than GH¢50 million per year, and abolishing it will not significantly impact the economy,” he added.
This commitment aligns with President John Dramani Mahama‘s pledge to abolish the betting tax during the 2024 election campaign.
Watch Ato Forson’s remarks in the video below:
‘Scrapping the Betting Tax will not affect the forward march of the economy… You don’t have to increase taxes to increase revenue. What is important is to increase compliance.’ – Dr. Cassiel Ato Forson, Finance Minister Designate, during his vetting.
Watch our live coverage… pic.twitter.com/DOEA3eq3r7
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