New Patriotic Party flagbearer aspirant, Kennedy Agyapong has waded into the 10 percent tax imposed on bets and lottery wins by the government of Ghana.
The Ghana Revenue Authority(GRA) on Monday, August 7, announced that it will begin implementing a 10% withholding tax on all gross gaming winnings from August 15, 2023.
According to the Member of Parliament for Assin Central, he passionately supports the decision by the Ghana Revenue Authority (GRA) adding that it should have been more because betting is not good for the future.
The lawmaker argued that, even in the United States taxes are imposed on free monies, hence the decision is apt and laudable.
“When you win an amount of 1 billion from the US lottery, your take home is 600 million, meaning about 400 million has been taxed because it's free money which s taxable. So, they have been charitable to the youth with the 10 percent”, he told TV3.
“I’m surprised the youth are asking me about betting. I will be honest because betting is not anything good for your future and that is why it should be punitive to discourage young men and women to take their destinies into their own hands instead of spending time on games. Whatever money you make today is temporal but what does one get from betting”, he added.
He mentioned that the youth can’t be blamed but he will create employment when voted into power, adding that the youth in Ghana can rely on him and give him the mandate to solve the unemployment in Ghana.
Kennedy Agyapong becomes the second parliamentarian after Osei Kyei-Mensah-Bonsu to justify the decision to impose taxation on betting and lottery wins.
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“When you win an amount of 1 billion from the US lottery, your take home is 600 million, meaning about 400 million has been taxed because it's free money which s taxable. So, they have been charitable to the youth with the 10 percent”, he told TV3.
