Business
Betting Tax Removal Won’t Dent Economy – Ato Forson Assures
Finance Minister-Designate labels betting tax a "nuisance" with negligible impact on national revenue
- Betting tax generates less than GHC50 million annually
- Supports President Mahama’s promise to scrap the tax as it won’t harm the economy
- Any revenue shortfall can be offset by modifying government spending
Finance Minister-Designate Dr. Cassiel Ato Forson has downplayed concerns about the economic impact of removing the betting tax, describing it as a “nuisance tax” with minimal significance to national revenue.
Addressing the Appointments Committee of Parliament on January 13, Dr. Forson stated that the tax contributes less than GHC50 million annually.
He emphasized that eliminating it, as pledged by President John Dramani Mahama, would not harm the economy if expenditure adjustments are made to offset the shortfall.
“Scrapping the betting tax won’t disrupt the country’s economic progress,” Dr. Forson assured, adding that some taxes generate so little revenue that their removal is inconsequential.
