Franklin Cudjoe, President of IMANI-Africa, disagrees with National Democratic Congress (NDC) leader John Dramani Mahama’s proposal to remove taxes on gains from wagers.
This comes after Mr. Mahama promised on Monday to remove the 10% sports betting tax if he wins the general elections in 2024.
President Akufo-Addo announced the 10% withholding tax on gaming and lottery winnings in August 2023.
But Ghana’s youth, who have voiced their discontent, have stiffly resisted this 10% withholding tax on gambling and lottery wins.
Speaking about Mr. Mahama’s pledge on Joy FM’s Super Morning Show, Mr. Cudjoe suggested that rather than doing away with the tax policy entirely, Mr. Mahama’s administration think about lowering the tax rate.
The President of IMANI-Africa added that young people who depend on betting as a source of income are unhappy since the present tax rate is too high.
Additionally, Mr. Cudjoe chastised former President John Mahama for not tackling this matter in a more thoughtful manner when the Youth Manifesto was introduced.
He said:
“Despite the economic challenges, I do not agree that we should completely remove taxes on the winning cash of betting. He can revise the tax downwards,”
“Some of the boys were complaining and I understood them because they argue that ‘you are not creating jobs for me as a government, the little joy I get from betting, you tax the joy away’. Of course, we don’t want that, but I think there has to be a middle ground.”
“John Mahama should have said ‘Look, taxes must be implemented to generate revenue for the country; however, the rate will be revised’. I would have agreed to that but in terms of doing away with it, that is more political talk,”
