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“I will abolish the betting tax in my first budget” – Finance Minister Designate Ato Forson

Finance Minister-designate, Hon. Cassiel Ato Forson, has pledged to abolish the sports betting tax and the E-levy in his first budget when he’s approved.

This is in sync with President John Mahama’s Bold Economic Comprehensive Plan, to reset the economy and rationalize the tax systems instituted by the previous Akuffo Addo-led government.

The 10 percent betting tax introduced by the previous government has been described as a nuisance tax with some section of the public consistently advocating against it. The Ghanaian betting community, largely comprising the youth, also kicked against the introduction of the tax.

Responding to questions before the Appointments Committee of Parliament in a vetting proceedings on Monday, January 13, Dr. Forson argued that the current betting tax has failed to meet its objectives and should be scrapped.

Ato Forson: “I insist that the betting tax must be abolished, and as Finance Minister, I will abolish it in my first budget because it has failed.”

The taxation expert also reiterated his strong stance on the controversial E-levy, saying his position on the E-levy remains unchanged.

“My position on the e-levy is well known. I have written articles about it, and my position has not changed,” he stated. He raised concerns about the classification of the levy, calling it neither a direct nor an indirect tax. “I don’t know how to classify it,” he added, questioning its efficacy in the current fiscal system.” he said.

The Finance Minister-designate emphasised that he would work towards a more sustainable and effective tax regime that fosters economic growth while relieving unnecessary burdens on the public.

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