Bill to abolish Betting Tax passed, awaits Mahama's assent

Parliament has passed the Income Tax (Amendment) Bill. This bill abolishes the controversial betting tax.

The bill will now go to President John Mahama for approval.

The betting tax applied to sports betting and other wagers. It faced public discontent and criticism from the industry.

The NDC government and betting stakeholders argued that the tax hindered growth. They said it affected a sector that significantly contributes to the economy. Consumers and advocacy groups claimed it unfairly burdened a popular leisure activity.

During the parliamentary session on March 26, the Majority spoke about repealing the tax. They said it would relieve financial pressure on the industry. It would also promote a more competitive market environment.

With this bill's passage, Parliament aims to rebalance fiscal priorities. The government plans to explore alternative measures for any revenue shortfall. These may include improving tax compliance in other sectors and broadening the tax base.

Earlier, Parliament also passed a bill to abolish the Electronic Transfer Levy (E-Levy). This move aligns with President Mahama's early promises in office.