President John Mahama cautioned against scrapping betting tax

The Director of Research at the Institute of Economic Affairs (IEA), Dr John Kwakye, has cautioned President John Dramani Mahama against abolishing the controversial betting tax, arguing that it remains a vital source of revenue for the economy.

Mahama during his campaign promised to scrap the betting tax but Dr. Kwakye has emphasised that the betting industry is rapidly expanding and, if properly regulated, can contribute significantly to government revenue.

He advised the administration to address tax loopholes and enhance collection measures rather than scrapping existing revenue streams.

“Betting will become an increasing part of the economy with huge tax revenue potential. Leaving betting untaxed would be fiscally ill-advised and, indeed, suicidal!”

– Dr Kwakye stated in a post on X (formerly Twitter).

The economist recommended that President Mahama and his economic team explore alternative means of revenue generation, such as plugging tax loopholes, broadening the tax net, and strengthening tax administration. He also urged the government to maximize earnings from natural resource receipts to compensate for planned tax removals.

Dr. Kwakye’s remarks come amid widespread discussions on tax policy ahead of the 2025 budget presentation. Reports indicate that Finance Minister Dr Cassiel Ato Forson is leading efforts to implement President Mahama’s campaign promise of removing the betting tax, which has been a subject of public debate since its introduction.

Source: ghanasoccernet.com

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Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.

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Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.