Nkonkonsa Celebrity Gossip From Africa
Honorable Cassiel Ato Forson, the newly appointed Finance Minister has made it very clear that the Government will eliminate the betting tax in its first budget of 2025.
Public discussions have arisen regarding the appropriateness of eliminating taxes in the betting sector.
The tax on betting that the Honorable Minister has mentioned is the withholding tax on gambling winnings, which is merely one form of taxation within the betting sector.
The tax on betting winnings (winnings tax) is one of two tax categories that applies solely to the betting sector.
Although the winnings tax was in the original version of the Income Tax Act, 2015 (Act 896), it was never really implemented until it was abolished in 2017 by the Income Tax (Amendment) (No. 2) Act, 2017 (Act 956).
View this post on Instagram
NKONKONSA.com
