Four Members of Parliament from the National Democratic Congress (NDC) have introduced a private member’s bill aiming to revoke the 10% withholding tax on betting and gaming winnings. The MPs leading this initiative are 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 submitted to the Clerk of Parliament, the MPs emphasized the pressing economic challenges facing the nation and argued for policies that could help ease financial pressures on citizens. They noted the impact of the Domestic Debt Exchange Programme (DDEP) and the issues of unemployment and economic hardship. The MPs argued that this immediate tax relief measures is essential to reduce the cost of living, encourage savings and investment, and support sustainable economic growth.
The Ghana Revenue Authority (GRA) introduced the 10% withholding tax on gross gaming winnings on August 15, 2023, as part of the amended Income Tax Act of 2023 (Act 1094). This tax replaced a previous 15% VAT on individual stakes.
With their proposed bill, the MPs seek to provide financial relief and support economic resilience for Ghanaians amid the current economic pressures.
