• Five NDC lawmakers have introduced a private member’s bill to remove the 10% betting tax in Ghana
• MPs wrote a letter citing current economic challenges to justify removing the tax.
• The GRA introduced a 10% withholding tax on betting on August 15, 2023, in order to raise millions of dollars per year.

Madina MP Francis-Xavier Sosu and four others CDN Lawmakers have introduced a private member’s bill to Parliament to repeal the 10% withholding tax on winnings from betting and gambling.

The deputies wrote a letter citing current economic challenges to justify removing taxes.

They argued that the tax on gambling winnings adds to the financial hardship many Ghanaians are already experiencing.

“…There is an urgent need to introduce policies, including tax relief measures, to help reduce the cost of living of Ghanaians, promote savings and investments and foster sustainable economic growth. »

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NDC MPs in Parliament have already have indicated their intention to repeal the betting tax and Levy on electronic transfers.

The GRA introduced a 10% withholding tax on betting on August 15, 2023, to raise about GH¢400 million annually.

This replaced the 15% VAT on each holding implemented under the amended Income Tax Act 2023 (Act 1094).

Mahama’s assurance on betting tax

National Democratic Congress flag bearer John Mahama also said he will explore alternatives to the betting tax if he wins power.

Speaking at a town hall meeting with some youth On July 12, Mahama said the electronic transactions tax would also get his attention if he became president again.

Mahama’s main rival, New Patriotic Party flag bearer Dr Mahamudu Bawumia, promised to abolish some taxes if he is elected president.

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The Vice President had previously said his bid for a digital and cashless Ghana would be significantly strengthened if the e-transfer levy was abolished.

Shatta Wale talks about betting income

YEN.com.gh also previously reported that Dancehall artist Shatta Wale opened up about his winnings from betting.

He noted in a video that he made GH¢1.5 million from betting in a month. He provided evidence to support his claims.

Reviewed by Bruce Douglas, Editor-in-Chief at YEN.com.gh

Source: YEN.com.gh