Betting teaches people to engage in lazy activities– Majority Leader justifies 10% tax
The Majority Leader in Parliament, Osei Kyei Mensah-Bonsu has justified the Ghana Revenue Authority’s 10% withholding tax on betting and lottery winnings scheduled to commence on Tuesday, August 15.
According to him, betting does not encourage hard work but rather teaches people to engage in lazy activities.
He argued that the surge of betting companies has contributed to a sense of laziness among the nation’s youth.
“I don’t believe in betting. I don’t believe in luck. I believe in hard work and sweat to get money. Let’s be serious. As for me, I’m against betting coming into the country. I don’t support it because it doesn’t encourage hard work.”
“As an individual, I don’t engage in the lottery because I don’t believe in that. I don’t believe in luck. Work hard so God will bless it.”
The Ghana Revenue Authority (GRA) has announced that it will start with the implementation of a 10% withholding tax on all gross gaming winnings from August 15, 2023.
According to the Authority, the previous 15% Value Added Tax (VAT) rate on each stake will no longer be applied. Instead, withholding tax will be imposed on earnings that are accrued after each win.
The GRA further explained that the new policy is in line with an amendment to the Income Tax Act 2023 (No.2), Act 1094.