The Member of Parliament for Madina constituency, Francis-Xavier Sosu, and four other National Democratic Congress (NDC) MPs have initiated a private member’s bill in Parliament to repeal the 10% tax on betting.
According to the MPs, the motive behind their bill emanates from the economic challenges Ghanaians are grappling with, coupled with other issues of national concern.
The NDC legislators argue that the betting tax further worsens the plight of Ghanaians who are struggling to make a living, hence their decision to get it abolished.
In a letter released by the MPs on November 7, 2024, they explained the reason to get the betting tax scrapped by the government.
“Considering the impact of the Domestic Debt Exchange Programme (DDEP) and the compounded challenges of unemployment and economic hardship, there is an urgent need to introduce policies, including tax relief measures, to help alleviate the cost of living for Ghanaians, promote savings and investments, and foster sustainable economic growth,” portions of the statement read.
The Domestic Tax Revenue Division of the Ghana Revenue Authority (GRA) stated in October 2023 that it generated GH¢15 million within a month from the 10% withholding tax on betting and lottery winnings.
Football fans have expressed their frustrations about the tax which they believe has negatively impacted their bet winnings financially.
Meanwhile, John Dramani Mahama and Dr. Mahamudu Bawumia have both vowed to abolish the tax if they win the 2024 general elections.
SB/ ADG
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