10% betting tax charitable, it should have been more – Kennedy Agyapong
In the midst of public outcry over the government’s recent introduction of a 10% withholding tax on betting, games, and lottery wins, New Patriotic Party (NPP) flagbearer hopeful Kennedy Agyapong stands firmly in support of the new taxation policy.
The controversial decision came into effect on August 15, 2023, prompting heated discussions across the nation. The move has been particularly unpopular among Ghana’s youth, many of whom engage in sports betting as a source of entertainment and, in some cases, income.
While many have criticised the tax, 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, asserting his ability to address the pressing issue of unemployment that is impacting the country.
Agyapong believes that his leadership can contribute to providing meaningful solutions to empower the younger generation to pursue more fruitful and enduring paths.
