Tax on bet winnings is wrong; we are taking it out - Kofi Adams

Sport and Recreation Minister-designate Kofi Adams says the ten percent (10%) taxes placed on betting winnings is not the way to go; thus, they'll take it out.

He believes the betting companies are already taxed, and taxing individual hard winnings is wrong, and the NDC government thought it wise to eliminate it.

Speaking on Sporty FM this morning, the Sports and Recreation Minister, expected to be sworn in in the coming days, expressed his concern on the betting tax and what they intend to do.

Taxing bet winnings is not the way to go because you're already taxing the stakes. So for us, we think that is wrong. That's why we're taking it out.

During the 2024 General Elections, a large portion of Ghana's youth voted overwhelmingly for John Mahama, largely because he promised to abolish the betting tax.

Many young voters viewed the tax as an exploitative measure imposed by the NPP government, which they felt unfairly targeted their primary source of income amidst widespread unemployment.

This pledge drove them to take decisive action at the polls, favouring Mahama’s promise of relief.

Group threatens John Mahama with demonstration if he scraps off betting tax

Meanwhile, the Institute of Community Sustainability has strongly cautioned President John Dramani Mahama against his proposed plan to abolish the betting tax, urging him to reconsider the decision due to its potential negative impact on Ghana's youth.

The institute expressed grave concerns that scrapping the tax could exacerbate the prevalence of sports betting among young people, leading to increased addiction, financial instability, and a decline in productivity.