Dr. Cassiel Ato Forson, Minister-Designate for Finance, has downplayed the economic impact of the betting tax revenue, claiming that its repeal would have no negative consequences for the country.
His remarks follow President John Dramani Mahama’s campaign promise to eliminate the tax.
During his vetting by the Appointments Committee of Parliament on January 13, Dr. Ato Forson stated that the betting tax generates less than GHC50 million per year.
He maintained that removing the tax would have minimal economic consequences if expenditures were adjusted to compensate for the revenue shortfall.
“Some of the taxes are not bringing in any revenue that you should [increase]. For example, the betting tax is bringing in less than GHC50 million a year. It’s a nuisance tax and scrapping GHC50 million will not mean anything in a way that will affect the economy.
“Scrapping betting tax will not affect the forward march of the economy.”
