Assin Central MP, and aspiring presidential candidate for the New Patriotic Party (NPP), Kennedy Agyapong, has voiced his opinion with regards to the 10% tax slapped on betting.
He has declared his support for the tax. Speaking in an interview on 3XTRA, he opined that the current 10% tax is insufficient and should be increased.
Tax on betting took effect from Tuesday, August 15, 2023, across the country. This comes after the government amended the Tax Act, therefore, introducing withholding tax on winnings from sports betting and lottery.
Although the Ghana Revenue Authority has stated that it intends to raise about GHC 1.2 million from lottery activities through this tax, the decision has been greeted with fierce rejection.
Ghanaians have condemned the tax and are calling for its withdrawal. Mr Agyapong on the other hand said the move by the government is a step in the right direction.
“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 said, adding that the government has been charitable for slapping just 10% as tax on betting.
He additionally urged the youth to refrain from engaging in such activities, as they are detrimental to their future prospects.
“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.