Five Members of Parliament (MPs) from the National Democratic Congress (NDC) have introduced a private member’s bill to repeal the 10% withholding tax on winnings from betting and gaming.
The MPs behind the bill 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 to the Clerk of Parliament, the MPs highlighted the current economic challenges and stressed the need for policies that ease financial burdens on citizens. They cited the impact of the Domestic Debt Exchange Programme (DDEP) along with the ongoing issues of unemployment and economic hardship.
They argued that there is an urgent need for tax relief measures to help alleviate the cost of living for Ghanaians, promote savings and investments, and foster sustainable economic growth.
The 10% withholding tax on gaming winnings was introduced by the Ghana Revenue Authority (GRA) on August 15, 2023, and applies to all gross gaming winnings.
This tax replaced the previous 15% VAT on each stake and was implemented under the amended Income Tax Act of 2023 (Act 1094).
Through this bill, the MPs aim to provide financial relief and foster economic resilience among Ghanaians, particularly in light of mounting economic pressures.
