“Betting tax should be strengthened, not removed” – Prof. Patrick Asuming reafirms

Economist Prof. Patrick Asuming has called for the strengthening of Ghana’s betting tax, arguing against its removal as a viable policy measure.

Speaking on ABC in the Morning, he cautioned against encouraging betting among the youth, stating, “I don’t think encouraging betting among the youth is the way to go. That’s not how to run our economy. The betting tax should be strengthened and not removed.”

Prof. Asuming also proposed that the contentious electronic levy (e-levy) should be abolished, describing it as “disruptive and unproductive.”

“It gives us so little and costs businesses so much to collect. I think that one should go without a blink.”

While advocating for the removal of the e-levy, Prof. Asuming emphasized that scrapping it alone would not suffice.

“It’s not enough to scrap the tax. The government must explain how they are going to plug that hole,” he said, urging a comprehensive plan to offset potential revenue losses.

This discussion comes amid Ghana’s ongoing efforts to stabilize its economy.

In his inaugural address yesterday, President John Dramani Mahama outlined four key priorities for his administration: economic restoration, improving the business environment, governance reforms, and accountability in the fight against corruption.

As Ghana’s new government works to implement these priorities, economists like Prof. Asuming continue to stress the need for thoughtful fiscal policies that balance revenue generation with economic productivity.