I will abolish betting tax in my first budget- Finance Minister Designate Ato Forson

Dr. Cassiel Ato Forson, the Minister of Finance Designate, has announced that he plans to eliminate the betting tax in his first budget presentation.

During his appearance at the Parliamentary Vetting for the Minister Designate for Finance, Energy, and Justice on Monday, January 13, he addressed the controversial tax imposed on sports winnings.

This tax was introduced in August 2023 after the then-Ghanaian government enacted the Income Tax (Amendment) Act, 2023 (Act 1094).

Under this law, the Ghana Revenue Authority (GRA) was authorized to collect 10% of all winnings from gambling platforms, including sports-related winnings.

During the more than four-hour vetting session, Dr. Ato Forson was questioned about his stance on the tax, which many have called for repealing. He stated that he intends to take action regarding this issue.

“I insist that, that tax must be abolished and as Minister of Finance, my first budget, I will abolish the betting tax” Dr. Forson said and added that scrapping the tax won’t affect the economy.