Scrapping betting tax won’t hurt economy – Ato Forson says revenue can rise without tax hikes

Dr. Forson is advocating for the removal of Ghana’s betting tax, arguing it won’t harm economic progress. He highlights compliance, not tax hikes, as the key to boosting government revenue.

Dr. Cassiel Ato Forson, Ghana’s Finance Minister-designate, has made a compelling case for scrapping the controversial betting tax, arguing that its removal would not hinder the nation’s economic progress.

Addressing the Appointments Committee of Parliament during his vetting on Monday, January 13, 2025, he stated, “Scrapping the betting tax will not affect the forward march of the economy.”

Dr. Forson emphasised that the key to boosting government revenue lies in improving tax compliance rather than imposing new taxes or increasing existing ones.

“You don’t have to increase taxes to increase revenue. What is important is to increase compliance,” he explained, advocating for innovative strategies to enhance the country’s fiscal performance without overburdening taxpayers.

The minister designate also noted claims that he plans to request additional financial support from the International Monetary Fund (IMF) are false.

Dr. Forson clarified that his earlier remarks on the matter had been misrepresented in the media.

“I didn’t say I was going to request additional finance from the IMF,” he stated unequivocally. “It’s inaccurate reportage. What I said was that we could request additional finance if the need arises.”

Dr. Forson explained that his comments were speculative and highlighted the importance of maintaining flexibility in managing Ghana’s economic affairs.

He urged the media to exercise caution in reporting to prevent misinterpretations that could unnecessarily alarm the public.

“The possibility of seeking additional IMF support should not be ruled out entirely,” he added, “but such a decision would only be made if circumstances warranted it.