2025 Budget, Finance Minister Dr. Cassiel Ato Forson has presented the government’s fiscal policy to Parliament, outlining measures aimed at restoring the economy.
In a move aimed at fulfilling campaign promises, the National Democratic Congress (NDC) government has scrapped the betting tax, effective immediately. This announcement was made by Finance Minister Cassiel Ato Forson, who revealed that the decision is part of the government’s efforts to alleviate the financial burden on Ghanaians.
READ ALSO: Betting Tax to be Scrapped – Thomas Nyarko Ampem
The betting tax, which was introduced to generate revenue for the government, had been met with widespread criticism from punters and bookmakers alike. Many argued that the tax was excessive and stifled the growth of the gaming industry.
As part of these efforts, he announced the cancellation of several taxes, including the Betting Tax, COVID-19 Levy, and E-Levy, among others.
With the scrapping of the betting tax, punters can now expect to take home their full winnings, without the deduction of taxes. This move is expected to boost the morale of punters and stimulate the gaming industry.
The decision to scrap the betting tax is seen as a major victory for the gaming community, which had been advocating for its removal. The government’s move is also expected to generate more revenue for the state, as a thriving gaming industry is likely to attract more investment and create jobs.
2025 Budget
Finance Minister Cassiel Ato Forson emphasized that the government is committed to creating a favorable business environment and promoting economic growth. He assured that the removal of the betting tax is just one of the many initiatives aimed at achieving this goal.
The scrapping of the betting tax has been welcomed by many Ghanaians, who see it as a relief from the financial burden imposed by the tax. As the gaming industry continues to grow, it is expected that the government will explore other avenues to generate revenue and promote economic development.
