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The Majority Leader in Parliament, Osei Kyei Mensah-Bonsu, has defended the rationale behind imposing taxes on earnings from betting and lottery wins.
He asserted that unregulated betting could potentially corrupt Ghana’s youth and promote laziness.
Mensah-Bonsu emphasized that betting does not foster a culture of hard work, contrasting it with God’s preference for rewarding diligence.
“I don’t believe in betting. I don’t believe in luck. I believe in hard work and sweating to get money. Let’s be serious. As for me, I’m against betting coming into the country. I don’t support it because it doesn’t encourage hard work.”
“As an individual, I don’t engage in lottery because I don’t believe in that. I don’t believe in luck. Work hard so God will bless it.”
The Ghana Revenue Authority (GRA) is preparing to introduce a 10% withholding tax on overall gaming winnings starting from August 15, 2023.
This new approach replaces the previous 15% Value Added Tax (VAT) on each stake. The change is aligned with an amendment to the Income Tax Act 2023 (No.2), Act 1094.
Edward Gyamerah, a Commissioner at the Domestic Tax Revenue Division of the GRA, warned of penalties and potential license revocation for gaming companies that do not adhere to the new policy.
