Member of Parliament for Suame Constituency and Majority Leader, Hon. Kyei Mensah Bonsu has reacted to the 10% tax on sports betting and lottery wins by government.
While, Kyei Mensah Bonsu is supporting government’s decision to collect 10% tax on all betting and lottery wins, he urged the youth to desist from engaging any betting activities.
According to the Majority Leader in Parliament, he detests betting because it doesn’t encourage hard and that those who say betting should be seen as work should know that stealing is also someone’s work.
He therefore encouraged the youth to work hard and seek God’s blessings on the work they do rather than engaging in betting to survive.
“I don’t believe in betting, I don’t believe in luck. I believe in hard work and sweating to make money. Personally, I don’t support betting because it doesn’t encourage hard work. As an individual I don’t engage in lottery because I don’t believe in luck,” he said.
Ghanaians’ opinions on sports betting have recently frequently been divided, with some highlighting its negative effects on the youth.
BETTING TAX
Majority leader in Parliament, Hon Kyei Mensah Bonsu supports tax on betting.
Says he detests betting because it doesn’t encourage hard and that those who say betting should be seen as work should know that stealing is also someone’s work.
Advises the youth to… pic.twitter.com/f6zslhvM5e
— Saddick Adams (@SaddickAdams) August 10, 2023
Meanwhile, the new 10% withholding tax on all gambling, gaming, and lottery winnings will go into effect on August 15, 2023, according to a notice issued by the Ghana Revenue Authority (GRA).
After the government changed the Tax Act, a withholding tax was introduced on lottery and sports betting winnings.
The GRA stated that their goals are to ensure complete compliance with the recently amended Tax Act and to generate about GHC 1.2 million from lottery activities, according to a report by UTV Ghana.
You may remember that the Ghanaian government announced plans to impose taxes on all winnings from gambling, games, and lotteries in April.
Young Ghanaians who partake in sports betting were vocal in their criticism of the new tax on social media.
In the past ten years, Ghana’s betting industry has experienced tremendous growth, which has encouraged numerous bookmakers to establish operations there.
