Kennedy Ohene Agyapong, the Member of Parliament for Assin Central and a presidential aspirant of the New Patriotic Party (NPP), has backed the government’s recent introduction of a 10% withholding tax on betting, games, and lottery wins.
According to the lawmaker, the introduction of the tax policy is a step in the right direction as it will serve as a disincentive for the youth to venture themselves into such activities.
Speaking to reporters, he said, “The 10% tax on betting is in order and it should have been more. If you go to America and win the US lottery, a billion, you’d take home about $600m because it’s free money and it’s taxable, so 10% they have been charitable”.
“I will be honest with the youth betting is not anything good for your future that’s why it should be punitive to discourage young men and women coming up to take their destiny into their own hands instead of spending time on games and all those things. Whatever money you’re going to make today is temporal and betting what are you going to get out of that? So, we have to be careful,” he added.
However, the introduction of this tax has led to a public outburst of criticisms, with many describing the government as being insensitive to the plights of youth.
The Ghana Revenue Authority (GRA) is hoping to rake in some GH¢400 million from the new gaming tax.
The new tax, which was effected on August 15, seeks to charge 10 percent tax on bet and lotto wins.
Meanwhile, the National Democratic Congress (NDC) youth wing has disclosed its intention to protest against the government over the newly effected 10% betting tax.