Removing betting tax will be suicidal! – Dr. John Kwakye warns President Mahama

John Kwakye [L] has cautioned President Mahama [R] over betting tax

The Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has advised President John Dramani Mahama against scrapping the betting tax.

He explained that the betting industry is expected to continue growing, generating substantial revenue for the economy if the tax is maintained.

The economist asserted that the government should focus on addressing loopholes and strengthening the tax net, rather than eliminating key revenue-generating taxes.

Dr. Kwakye cautioned President Mahama that abolishing the betting tax would be suicidal for his administration, urging him to reconsider the decision.

“Betting will become an increasing part of the economy with huge tax revenue potential. Leaving betting untaxed would be fiscally ill-advised and, indeed, suicidal!

“Planned tax abolitions should be compensated by measures to plug tax loopholes, broaden the tax net, strengthen tax administration, and stem tax evasion. Natural resource receipts should also be fully exploited,” he wrote on X.

Reports indicate that Minister of Finance Dr. Cassiel Ato Forson is working to ensure the betting tax is removed during the 2025 budget reading.

It remains to be seen whether the betting tax will be abolished as President Mahama promised during his 2024 election campaign.

Read Dr. Kwakye’s tweets below:

Betting will become an increasing part of the economy with a huge tax revenue potential. Leaving betting untaxed would, therefore, be fiscally ill-advised and, indeed, suicidal!

— J. K. Kwakye (@JohnKwabenaKwa1) February 11, 2025

Planned tax abolitions should be compensated by measures to plug tax loopholes, broaden the tax net, strengthen tax administration and stem tax evasion. Also, natural resource receipts should be fully exploited.

— J. K. Kwakye (@JohnKwabenaKwa1) February 11, 2025

Watch the latest edition of Sports Debate below:

SB/EK