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Kennedy Agyapong, believes the withholding tax on all betting, games and lottery wins should’ve been more than 10%.

Video: Tax on bet winnings should’ve been more than 10% – Kennedy Agyapong | Pulse Ghana

Emmanuel Ayamga

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According to him, if winners of the American lottery are taxed, then it is not alien for the Ghanaian government to do the same here.

The Assin Central MP further described sports betting as a bad thing for the youth, adding that they should be discouraged from gambling.

He was, however, quick to admit that the majority of the youth are involved in sports betting due to the high unemployment levels in the country, but said he’ll change that if voted as President.

<div class="embed"><blockquote class="twitter-tweet">&quot;The 10% tax on bet winnings should have been more; betting is not anything good for your future&quot; NPP flagbearer aspirant Hon. Kennedy Agyapong shares his take on government&#39;s 10% withholding tax on winnings from sports betting and lottery.<a href="https://twitter.com/hashtag/3Xtra?src=hash&amp;ref_src=twsrc%5Etfw">#3Xtra</a> <a href="https://twitter.com/hashtag/TV3GH?src=hash&amp;ref_src=twsrc%5Etfw">#TV3GH</a> <a href="https://t.co/MjuqD16v8D">pic.twitter.com/MjuqD16v8D</a>&mdash; #TV3GH (@tv3_ghana) <a href="https://twitter.com/tv3_ghana/status/1691814544509722981?ref_src=twsrc%5Etfw">August 16, 2023</a></blockquote>
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“It should’ve been more. Let me give you an example, if you go to America and you win a billion in the US lottery, you’d take home about $600 million,” Agyapong told TV3.

“Why? Because it’s free money and it’s taxable, so 10%, the government has been charitable, and I’m surprised as a youth you’re asking me about betting.

“Betting is not good for your future, that is why it should be punitive to discourage the young men and women coming up to take their destinies into their own hands instead of spending time on games.”

Punters and gamblers will from August 15, 2023, started paying a 10% withholding tax on all betting, games and lottery wins.

Government’s 10% tax on sports betting winnings starts today

This followed the government’s decision to amend the Tax Act, therefore, introducing withholding tax on winnings from sports betting and lottery.

The decision has, however, been criticised by a section of Ghanaians, some of who took to social media to bash the government.

Kennedy Agyapong: Tax on bet winnings should’ve been more than 10%

Video: Tax on bet winnings should’ve been more than 10% – Kennedy Agyapong

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