Dr. Cassiel Ato Forson, the Ranking Member of the Parliament’s Finance Committee, has urged the government to consider banning sports betting as an alternative to imposing taxes on the sector. He believes that rather than taxing the gaming industry, it would be more effective to restrict or even prohibit gambling, which is having a negative impact on the Ghanaian youth. Dr. Ato Forson expressed concern about the societal implications and suggested that governing a country involves more than just financial considerations—it also requires safeguarding the well-being of the society.
In the 2021 Budget presented to Parliament, the government acknowledged a yearly revenue loss of over GHS 300 million due to loopholes in the gaming industry. To address this issue, the Ministry of Finance and the Ministry for the Interior have been assigned the responsibility of jointly supervising the gaming sector. They are expected to engage with stakeholders to develop a comprehensive policy aimed at enhancing revenue generation from this source.
However, Dr. Ato Forson proposes an alternative approach. He suggests that the government should explore the potential of the Tax Exemption Bill rather than imposing taxes on individuals and businesses. He believes that the Exemption Bill alone has the capacity to contribute significantly to the country’s GDP, estimating around 2.5%. He points out that the government’s decision to resort to taxation is driven by convenience, but leveraging the Tax Exemption Bill could offer a more sustainable solution. Dr. Ato Forson represents the constituency of Ajumako-Enyan-Esiam in Parliament.