Dr. Cassiel Ato Forson, Ghana’s Finance Minister-Designate, has played down concerns about the potential economic fallout from removing the betting tax, insisting that its abolition would have little effect on the country’s finances.

During his vetting by the Parliamentary Appointments Committee on 13 January, Dr. Forson stated that the tax generates less than GHC 50 million annually, a figure he described as insignificant in the context of the national budget.

“Some taxes do not contribute significantly to government revenue. The betting tax, bringing in less than GHC 50 million a year, is one such case. Scrapping it will not have any substantial impact on the economy,” he said.

The statement follows a campaign promise by former President John Dramani Mahama to abolish the betting tax, with Dr. Forson suggesting that any revenue shortfall could be offset by adjustments in government spending.

Source:TheDotNews