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The Director of Communication for the New Patriotic Party (NPP)Mr Richard Aghiabah has disclosed that there’s a move by the government to discourage lazy Ghanaian youth from engaging in sports betting.
In his view, taxing those who engage in sports betting would certainly discourage the youth and purge the system and ensure that many young ones do not take to gambling.
“Betting is making the youth lazy: a 10% winning tax is another method to decrease the number of youths who gamble,” He said
He noted that the craze for sports betting among the youth of Ghana has the potential to hinder their development and by extension, the future of the country if not checked properly.
He reiterated that the alarming rate at which the youth are patronizing sports is dangerous and making them utterly lazy.
He said the youth of today are too obsessed with betting at the expense of productive ventures that could propel their lives.
He added that such social canker is gradually turning Ghanaian youth into addicts, a situation he described as very worrying and dangerous.
He stressed that it is unacceptable for most youth to limit themselves to this lazy approach of making money in an era where their age mates are pursuing goals that could benefit even generations yet unborn in other jurisdictions.
The Government of Ghana is proposing a 10 per cent tax on all winnings from sports betting.
This suggests that whenever a punter wins a bet, he/she is obligated to pay 10 per cent of that to the government and only keep the other 90 per cent.
Also, the betting companies will be taxed on all their revenues and will be mandated to pay a 20 per cent levy on their proceeds.
This news was relayed by the Ghana Revenue Authority reads:
Withholding tax on winnings from betting, lottery, and games of chance.
Betting, lottery, and game of chance winnings will now be subject to a 10% withholding tax at the point of payout.
By Lawrence Odoom
