Finance Minister confirms 10% withholding tax on bet winnings will be abolished
Finance Minister Dr. Cassiel Ato Forson has announced the removal of the 10% withholding tax on bet winnings.
The Ajumako-Enyan-Esiam Constituency MP stated that the levy failed to generate the expected revenue and contributed to Ghana’s rising cost of living.
Presenting the 2025 Budget Statement and Economic Policy to Parliament on March 11, 2025, Dr. Forson stressed that eliminating the tax would help ease financial pressure on Ghanaians and support economic recovery.
The tax was initially introduced by the previous NPP administration as part of efforts to boost government revenue.
The decision comes after sustained criticism from football fans and bettors, who argued that the levy significantly reduced their winnings, leaving them with little to no profit.
Many young people, in particular, viewed the tax as an additional burden at a time when formal employment opportunities remain limited.
Dr. Forson assured Parliament that rather than imposing new taxes, the government would prioritize improving revenue collection efficiency.
The move has been widely welcomed by betting enthusiasts and the general public, who see it as a relief amid ongoing economic challenges.
