Betting tax cancelled officially

3/27/2025 08:56:00 AM

Parliament on Wednesday, March 26, passed the Income Tax (Amendment) Bill, 2025 to abolish Betting Tax, taxes on Gaming and Lotteries, and repeal 1.5% withholding tax on unprocessed gold.

The betting tax was implemented with the hope of curbing the rate of gambling and generating more revenue for the country.

However, the move was met with widespread dismay by bettors, who felt the government was being insensitive to their plight.

The National Democratic Congress (NDC) promised during the 2024 campaign season to abolish the tax and others after describing it as nuisance.

Accordingly, the Finance Minister Dr Cassiel Ato Forson announced in the 2025 budget a proposal to scrap the tax, a proposal which has been endorsed by Parliament.

The scrapping will take effect after President Mahama has assented to the Bill.

Source: 3News