Four Members of Parliament from the National Democratic Congress (NDC) have proposed a private member’s bill to remove the 10% withholding tax on betting and gaming winnings.
The MPs sponsoring the bill include Francis Xavier Sosu (Madina), Dr. Cassiel Ato Forson (Ajumako Enyan Esiam), Isaac Adongo (Bolgatanga Central), Teddy Safori Addi (Ayensuano), and Alhassan Suhuyini (Tamale North).
In a letter to the Clerk of Parliament, they emphasized the pressing economic challenges facing Ghanaians and the need for policies that ease citizens’ financial burdens. They pointed to the impact of the Domestic Debt Exchange Programme (DDEP), as well as persistent unemployment and economic hardships.
The MPs argued that tax relief is essential to help reduce the cost of living, encourage savings and investments, and support long-term economic growth for Ghanaians.
The 10% withholding tax on betting winnings was introduced by the Ghana Revenue Authority (GRA) on August 15, 2023, applying to all gross gaming earnings. It replaced a previous 15% VAT on individual stakes and was enacted under the amended Income Tax Act of 2023 (Act 1094).
Through this bill, the MPs hope to provide financial relief and strengthen economic resilience in response to rising economic pressures in the country.
SOURCE: http://dew360.net
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