Madina MP Francis-Xavier Sosu, along with four other Members of Parliament, has introduced a bill aiming to repeal the current 10% withholding tax on betting and gaming winnings in Ghana. In a formal letter to the Clerk of Parliament on November 7, Sosu and his colleagues emphasized that this tax adds financial strain amid widespread economic challenges.
The MPs argue that eliminating this tax would relieve Ghanaians facing high living costs and limited financial options, worsened by the recent Domestic Debt Exchange Programme (DDEP). The bill calls for measures that not only address unemployment and financial hardship but also foster economic stability by encouraging savings, investments, and growth.
The 10% withholding tax on gaming winnings was enacted by the Ghana Revenue Authority (GRA) on August 15, 2023, as part of the updated Income Tax Act, 2023 (Act 1094), replacing the prior 15% VAT on individual stakes.
