Member of Parliament for Assin North constituency, Honorable Kennedy Agyapong has recently given his opinion on the contentious proposal to impose a 10% tax on winnings from betting.
The outspoken lawmaker believes that the current tax rate of ten percent on gambling winnings is insufficient and that it ought to be raised to a higher amount.
Kennedy Agyapong argues that it is reasonable, citing the example of the United States, which imposes substantial taxation on the lottery and other games of chance that are similar to lottery games.
According to Kennedy Agyapong’s comments made to 3Xtra, “[The 10% tax on betting] is in order and it should have been more.” “If you went to the United States and won a billion dollars in the United States lottery, you’d take home about $600 million because it’s free money and it’s taxable, so 10% of it has been given to charity.”
“I will be honest with the [youth]: betting is not anything good for your future. That is why it should be punishable to discourage young men and women from coming up to take their destinies into their own hands instead of spending time on games and all of those things instead of spending time betting on games. The money you are going to make today is only going to be temporary, and if you bet it, what are you going to accomplish with that? Therefore, we need to exercise extreme caution,” he continued.
He went on to urge the younger generation to give him the opportunity to lead as president so that he could increase it even further, and he asserted that he was able to address the critical issue of unemployment that was affecting the country.
The National Democratic Congress (NDC), a political opposition group, has announced that it will demonstrate against the tax and occupy government buildings in an effort to get it repealed.
It is a burdensome taxation policy that, according to the youth wing of the party, unfairly impacts the country’s youth as well as the wider betting industry.
The National Youth Organiser of the NDC, George Opare Addo, issued a press statement in which he expressed the party’s displeasure with the tax. The statement read, “Our determination to protect the funds Young People secure through betting is unyielding.” We will ensure that our voices are heard through agitations, protests, advocacy, and civic engagements, and we will demand that this corrupt Akufo-Addo/Bawumia Government reverse its decision.
