Communications Team member of the governing New Patriotic Party (NPP) Solomon Owusu says government has had to resort to imposing tax on betting and gambling to discourage increasing number of youths from betting.

According to him, the government could not have looked on unconcerned as a huge number of youths including students who should be focusing on their studies are rather occupying themselves with betting.

Punters and gamblers effective Tuesday, August 15, 2023, are required to pay a 10% withholding tax on all betting, games and lottery wins.

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

The betting industry in Ghana has seen tremendous growth in the last decade, leading to many betting companies setting up shops in the country.

In recent years, sports betting has often divided opinion among Ghanaians, with some quarters highlighting its effects on the youth.

The decision to introduce a 10% withholding tax has, however, been criticized by Ghanaians, some of whom took to social media to bash the government.

Commenting on the issue further on Ghana Kasa show on Kasapa 102.5FM/Agoo TV, Solomon Owusu expressed confidence that the move by government while generating revenue for the State will also have the desired impact on the youth.

“The government has realized that a lot of our youth are now into betting. A lot of youth who must be in school and focus on their studies are now interested in wasting their time betting than studying. The boys think there’s more money in betting and so they will stake and make money. So, they give more attention to betting than education. So, the government wants to use taxation to discourage the youth from betting.

He added: “Last year or so, there was a case where some students of KNUST were to be sacked for not paying their school fees. After investigation, it was established that they actually used their school fees to bet and lost the money, putting their future in jeopardy. This is not the kind of future leaders we want for the country. If you are a government and you hear of this KNUST incident, you don’t ban betting immediately, you can begin with putting taxes on betting to discourage them from betting. I am confident that the move by government while generating revenue for the State will also have the desired impact on the youth.”

Source: Kasapafmonline.com

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