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Honorable Kennedy Agyapong, a member of Parliament and flagbearer of the New Patriotic Party (NPP) has shared his opinion on the controversial 10% tax on bet winnings.
According to the outspoken lawmaker, the ten percent tax on bet winnings is too small and it should be more.
Agyapong argues that it is reasonable, citing the example of the United States where substantial taxation is imposed on lottery and similar games of chance.
“[The 10% tax on betting] is in order and it should have been more,” Agyapong said to 3Xtra. “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.
He further urged the youth to grant him the opportunity to lead as president so he can increase it further, asserting his ability to address the pressing issue of unemployment that is impacting the country.
The opposition National Democratic Congress (NDC) has served notice that it will protest and occupy government buildings for the tax to be abolished.
According to the youth wing of the party, it is a burdensome taxation policy that unfairly impacts the country’s youth and the broader betting industry.
A press statement by the National Youth Organiser of the NDC, George Opare Addo expressed the party’s dissatisfaction with the tax, stating, “Our determination to protect the funds Young People secure through betting is unyielding. Through agitations, protests, advocacy, and civic engagements, we will ensure our voices are heard and demand that this CORRUPT Akufo-Addo/Bawumia Government rescind its decision.”
