Removing betting tax could scupper IMF program - Dr. Gideon Boako cautions Mahama

Member of Parliament for Tano North constituency, Dr. Gideon Boako, has advised President John Dramani Mahama against the removal of betting tax, e-levy, and other taxes.

According to him, scrapping these taxes could threaten Ghana's deal with the International Monetary Fund (IMF) program, as it would have a negative impact.

The MP indicated that removing these taxes would require introducing new ones, which he is against due to its economic implications.

"We don't want a situation where you give with one hand and take with the other. They need to be explicit. If they cut taxes, they should not introduce new ones. You can't cancel e-levy and betting tax and then create another tax to fill the gap.

"If they indeed want to scrap e-levy, betting tax, COVID-19 tax, and emission taxes, the only way to match the debt service to revenue ratio, as required by the IMF program, is to introduce another tax to make up for the shortfall. Otherwise, they don't have room for maneuver," he said in an interview with Citi News.

This warning comes after Minister-designate for Finance, Dr. Cassiel Ato Forson, promised to abolish the betting tax, citing its ineffectiveness in preventing youth involvement in betting.

Ato Forson clarified that removing the betting tax would not severely impact the Ghanaian economy, considering the revenue it generates.

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