The Member of Parliament for Madina, Francis-Xavier Sosu and four other NDC legislators, have taken a significant step to alleviate the “financial burden” on Ghanaians. They’ve introduced a private member’s bill to abolish the 10% withholding tax on winnings from betting and gaming.
In a letter to the Clerk of Parliament dated November 7, the MPs emphasized the importance of reducing financial burdens on Ghanaians. They argued that the tax on gaming winnings only adds to the difficulties many are already experiencing, especially with the Domestic Debt Exchange Programme (DDEP) in place.
The 10% withholding tax, introduced by the Ghana Revenue Authority (GRA) on August 15, 2023, applies to all gross gaming winnings. This replaced the previous 15% VAT on each stake and was implemented under the amended Income Tax Act of 2023 (Act 1094).
By repealing this tax, the MPs aim to provide financial relief and foster economic resilience among Ghanaians, addressing the mounting economic pressures.
Read the full statement below:
