Getting your Trinity Audio player ready...
|
Kennedy Agyapong, the Assin Central Member of Parliament and a prospective presidential candidate for the New Patriotic Party (NPP), has expressed his stance on the 10% tax imposed on betting activities.
He has openly declared his support for the tax, further stating that the current 10% rate is inadequate and should be raised.
In a recent interview on the program “3XTRA,” Agyapong shared his perspective on the matter. He emphasized that, in his view, the current tax rate on betting is insufficient to generate the desired revenue for the government. Agyapong’s opinion is contrary to the public sentiment that has been largely critical of the introduction of the tax.
The tax on betting came into effect on August 15, 2023, and is applicable across the entire country. This policy change was brought about through an amendment to the Tax Act, introducing a withholding tax on winnings from sports betting and lottery activities.
The Ghana Revenue Authority has stated its aim to collect approximately GHC 1.2 million in revenue from lottery activities through the implementation of this tax. However, the decision has met with strong resistance from the public, with many Ghanaians calling for the tax to be rescinded.
Also Read: NIA Dismisses 10 Employees Over Misconduct and Extortion Allegations
Contrary to the prevailing public sentiment, Kennedy Agyapong expressed his belief that the government’s move to tax betting is a positive step forward. His viewpoint adds a different dimension to the ongoing discourse surrounding the introduction of this tax, underscoring the diversity of opinions on the issue.
He further commented, noting that the government’s decision to impose a mere 10% tax on betting could be considered lenient, “The tax is in order and should have been more. In America, if you win a billion dollars lottery, you’ll take home about 6 million dollars. Why? Because it’s free money and it’s taxable,”
He also appealed to the youth, advising them to abstain from participating in such activities due to the potential negative impact they can have on their future opportunities.
“Betting is nothing good for your future, that’s why it should be punitive to discourage the young men and women coming up,” he added.