Francis-Xavier Sosu, 4 Other NDC MPs Introduce Bill To Abolish 10% Betting Tax

• Five NDC legislators have introduced a private member’s bill to remove Ghana's 10% betting tax
• The MPs wrote a letter citing the current economic challenges as justification for removing the tax
• The GRA introduced a 10% withholding tax on betting on August 15, 2023, to raise millions annually

Madina MP Francis-Xavier Sosu and four other NDC legislators have introduced a private member’s bill in Parliament to repeal the 10% withholding tax on winnings from betting and gaming.

The MPs wrote a letter citing the current economic challenges to justify tax removal.

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

“…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.”

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The NDC MPs in Parliament have previously indicated their intent to repeal the betting tax and the Electronic Transfers Levy.

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 stake implemented under the amended Income Tax Act of 2023 (Act 1094).

Assurance from Mahama on Betting Tax

National Democratic Congress flagbearer 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 Transaction Levy would also receive his attention if he becomes president again.

Mahama's main rival, the flagbearer of the New Patriotic Party, Dr Mahamudu Bawumia, also promised to abolish some taxes if elected president.

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The Vice President previously said his bid for a Digital and Cashless Ghana would be significantly boosted if the Electronic Transfer Levy were abolished.

Shatta Wale speaks on earnings from betting

YEN.com.gh also previously reported that Dancehall artist Shatta Wale had opened up on his earnings from betting.

He noted in a video that he had made GH¢1.5 million from betting in a month. He provided proof to back his claim.

Proofread by Bruce Douglas, senior copy editor at YEN.com.gh

Source: YEN.com.gh