I support 10% bet tax; should have been more – Kennedy Agyapong

The recent implementation of a 10 percent withholding tax on betting, games, and lottery winnings by the government has sparked considerable public outcry. In contrast to the prevailing sentiment on social media, Mr. Kennedy Agyapong, a contender for the New Patriotic Party’s (NPP) flagbearer nomination, staunchly supports the newly introduced taxation policy.

Effective as of August 15, 2023, the controversial decision has ignited fervent discussions across the nation. This move has garnered notable disapproval from Ghana’s youth, a demographic significantly engaged in sports betting for both entertainment and potential income.

While widespread criticism has been directed at the tax, Mr. Agyapong contends that it is reasonable, drawing a parallel with 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,” Mr. Agyapong said in an interview on TV3. “If you go to America and win the US lottery, a billion, you’d take home about $600 million because it’s free money and it’s taxable, so 10% of 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 [with] betting, what are you going to get out of that? So, we have to be careful,” he added.

Mr. Agyapong went on to appeal to the youth for an opportunity to lead as president. He asserted his capability to address the critical issue of unemployment currently affecting the nation.

Believing in his capacity to provide tangible solutions, Agyapong envisions contributing to the empowerment of the younger generation by encouraging them to pursue more substantial and enduring pathways.

Source: Graphic Ghana