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Dr. Cassiel Ato Forson, the Minister-Designate for Finance, has lowered the economic impact of the betting tax’s revenue, claiming that the nation would not suffer if it were abolished.
His comments come after President John Dramani Mahama pledged during the campaign to do away with the tax.
Dr. Ato Forson stated that the betting tax brings in less than GHC50 million a year during his January 13 vetting by the Appointments Committee of Parliament.
He insisted that, as long as spending is modified to make up for the revenue deficit, eliminating the tax will have little effect on the economy.
“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.
“Scrapping betting tax will not affect the forward march of the economy.”
Source: Ghanatodayonline.com
