‘We taxed bet winnings, not lottery winnings’ Former Finance Minister clarifies

Former Finance Minister Dr. Mohammed Amin Adam has clarified a misunderstanding regarding the taxation of gambling winnings in Ghana. He made this clarification to counter what ongoing debates and discussions about the government’s fiscal policies and their impact on various sectors of the economy.

In an interview on JoyNews and monitored by the NewsGod, Dr. Adam revealed that the government’s policy was to tax bet winnings but not lottery winnings.

“I did not err. What you just read are my words,” Dr. Amin Adam said.
“I said that the betting tax they say they have abolished—qualified the word that—because the minister came to Parliament and said he’s going to abolish withholding tax on winnings from the lottery, otherwise known as betting tax as if to equate betting tax to winnings from the lottery.
“Meanwhile, in their manifesto, they said they were going to abolish a 10% withholding tax on bet winnings.”

Gambling; which includes both betting and lotteries, has been a major contributing sector in Ghana. These are typically associated with sports betting, horse racing, and other forms of event-based wagers. Dr. Adam confirmed that the government’s policy was to tax these winnings, making sure they align with international practices where such winnings are considered as taxable income.

Dr. Adam has also cast doubt on the feasibility of this policy stating that the 2025 Budget lacks a clear roadmap for its execution.