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On Thursday, March 13, 2025, Finance Minister Dr. Cassiel Ato Forson presented the Income Tax Amendment Bill (Act 896) to Parliament, aiming to abolish the 10% withholding tax on lottery winnings.
Introduced in August 2023 by the previous administration, the betting tax was part of efforts to broaden the tax base but faced significant public opposition, particularly among the youth, who constitute the majority of bettors. The Ghana Revenue Authority reported collecting approximately GH¢15 million per month from this tax, totaling GH¢80 million to date.
Dr. Forson emphasized that the proposed repeal aligns with the National Democratic Congress’s (NDC) manifesto promise to eliminate the controversial tax. He expressed confidence in a swift legislative process, noting that repealing these taxes involves straightforward amendments.
In addition to abolishing the betting tax, the Bill proposes removing the 1.5% withholding tax on unprocessed gold from small-scale mining, aiming to provide relief to artisanal miners.
The Bill has been referred to the Finance Committee for further consideration. Parliament is expected to deliberate on the potential economic and social implications of these proposed tax repeals in the coming days.
