Four Members of Parliament (MPs) from the National Democratic Congress (NDC) have introduced a private member’s bill aimed at repealing the 10% withholding tax on winnings from betting and gaming.
The MPs behind the initiative are Francis Xavier Sosu (Madina), Dr. Cassiel Ato Forson (Ajumako Enyan Esiam), Isaac Adongo (Bolgatanga Central), Teddy Safori Addi (Ayensuano), and Alhassan Suhuyini (Tamale North).
In their letter to the Clerk of Parliament, the MPs emphasised the current economic challenges facing the country, including the impact of the Domestic Debt Exchange Programme (DDEP), high unemployment rates, and increasing economic hardship.
They argued that these issues necessitate urgent policy interventions to ease the financial burdens on citizens.
The bill seeks to reverse the 10% withholding tax on gaming winnings, which was introduced by the Ghana Revenue Authority (GRA) on August 15, 2023. This tax, which applies to all gross gaming winnings, replaced the previous 15% VAT on each stake, following amendments made under the Income Tax Act of 2023 (Act 1094).
The MPs contend that the proposed repeal will provide financial relief to Ghanaians, reduce the cost of living, and encourage savings and investment, ultimately contributing to sustainable economic growth.
The bill is part of their broader push for tax relief measures that will help build economic resilience in the face of mounting national pressures.
