Betting tax removed; now you win, you keep it all — Finance Minister

Dr. Cassiel Ato Forson, the Minister of Finance

Dr. Cassiel Ato Forson, the Minister of Finance, has highlighted the significant impact of the removal of some taxes on Ghanaians.

Speaking specifically about the 10% withholding tax on lottery and betting winnings imposed by the previous NPP government, Dr. Ato Forson noted that bettors will now keep their winnings in full.

In a social media post on Thursday, April 3, the Ajumako Enyan Esiam Member of Parliament added that the government is tackling gold smuggling by removing the tax on unprocessed gold.

“Great news, Ghana!
President John Mahama yesterday officially signed several game-changing bills into law, and I’m excited to share what this means for YOU!

“No Tax on Lottery & Betting Winnings! You win, you keep it all! Plus, we’re tackling gold smuggling by removing the tax on unprocessed gold,” wrote the Finance Minister.

President John Dramani Mahama assented to the bills passed by Parliament to remove the Betting Tax, E-Levy, Emissions Tax, and others on Wednesday, April 2.

Parliament approved the bills repealing the betting tax, emissions tax, the Electronic Transaction Levy (E-Levy), and others on Wednesday, March 26.

The 2025 budget statement outlined the removal of several taxes, including the betting tax, E-Levy, emissions tax, VAT on motor vehicle insurance policies, and the 1.5% withholding tax on winnings from unprocessed gold by small-scale miners.

Presenting the budget to Parliament on Tuesday, March 11, Dr. Forson explained that the move aims to ease the financial burden on Ghanaian households and businesses.

He further addressed concerns about how the resulting revenue gaps would be filled, explaining that reducing the current tax refund ceiling from 6% to 4% would help cover the shortfall by generating GH¢3.8 billion.