The Minister-Designate for Finance, Dr. Cassiel Ato Forson, has downplayed the economic impact of revenue generated from the betting tax, arguing that its removal would not adversely affect the country.
His remarks follow a campaign promise made by President John Dramani Mahama to scrap the tax.
Speaking during his vetting by the Appointments Committee of Parliament on January 13, Dr. Ato Forson noted that the betting tax generates less than GHC50 million annually.
He maintained that removing the tax would have minimal economic consequences, provided expenditure is adjusted to offset 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.”
