Finance Minister Announces Abolition of 10% Betting Tax
In a significant move for sports enthusiasts and bettors in Ghana, Finance Minister Dr. Cassiel Ato Forson has announced the elimination of both the 10% withholding tax on sports winnings and the Electronic Transactions Levy (E-Levy).
This decision, revealed during the presentation of the 2025 Budget Statement and Economic Policy to Parliament on March 11, 2025, aims to alleviate financial pressures on citizens and address the ongoing cost-of-living crisis.
Dr. Forson cited the failure of these levies to meet revenue expectations as a key reason for their removal.
He emphasized that abolishing these taxes, which were originally introduced by the previous administration, is a crucial step toward fostering economic recovery and easing the financial burdens faced by Ghanaians.
The decision to eliminate the betting tax has been met with widespread approval from football fans and bettors, who have long argued that the tax significantly reduced their winnings and left them with little to no profit.
This tax had particularly frustrated Ghana’s youth, who viewed it as an obstacle amid limited formal employment opportunities.
In his address, Dr. Forson reassured Parliament that the government would prioritize improving revenue collection efficiency rather than introducing new taxes.
This approach is intended to secure adequate funding for development projects while minimizing the financial strain on citizens.
The abolition of these taxes marks a pivotal moment in Ghana’s sports and economic landscape, promising to enhance the betting experience for many and stimulate participation in sports activities across the nation.
