- Parliament cancels Betting Tax, gaming taxes, and gold withholding tax
- Winners of betting games will no longer pay the 10% tax on their winnings
- The repeal will result in a GH₵268 million revenue gap for the government
Parliament has approved the repeal of the contentious Betting Tax, as well as taxes on gaming, lotteries, and the 1.5% withholding tax on unprocessed gold. The approval, granted on Wednesday, March 26, 2025, follows the passage of the Income Tax (Amendment) Bill, 2025.
With this change, winners of betting games will no longer be subject to the 10% tax on their winnings, a levy introduced under former President Nana Akufo-Addo. However, this decision will result in a revenue shortfall of GH₵268 million for the Mahama-led government. Additionally, the removal of the unprocessed gold tax will cost the government GH₵145 million.
Finance Minister Dr. Cassiel Ato Forson revealed that data from the Precious Minerals Marketing Company (PMMC) indicates that between $2.4 billion and $4.6 billion worth of gold has been smuggled to Dubai. He expressed hope that repealing the tax would help curb this issue.
While the Minority raised concerns about the enforcement of the emission tax law, Dr. Forson emphasized that the government always intended to repeal it. The Betting Tax, which imposed a 10% levy on gross winnings, was originally introduced to regulate gambling and boost government revenue but faced resistance from bettors and gaming operators who considered it burdensome.
During the 2024 election campaign, the National Democratic Congress (NDC) promised to eliminate the tax, calling it a “nuisance tax.” In line with this commitment, Dr. Forson announced its removal in the 2025 budget, and Parliament has now endorsed this proposal.
Additionally, Parliament has approved the Electronic Transaction Levy (E-Levy) Repeal Bill, 2025, effectively eliminating the unpopular digital tax.
