The Minister for Finance Dr Casiel Ato Forson, during the presentation of the 2025 budget announced the removal of the 10% withholding tax on winnings from the lottery, otherwise known as the ‘Betting Tax’; we will abolish the Electronic Transfer Levy (E-Levy) of 1%; we will abolish the Emission Levy on industries and vehicles; we will abolish the VAT on motor vehicle insurance policy; and we will abolish the 1.5% withholding tax on winning of unprocessed gold by small-scale miners.
The announcement has sparked widespread jubilations among betting investors known as punters.
In an interview with Nyce News reporter Joycelyn, they said the tax was not necessary as they did not see any progress in the economy.
They can freely gamble without paying nuisance taxes.
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