Kennedy Agyapong, a potential flagbearer candidate for the New Patriotic Party (NPP), is unwavering in his support of the new taxation policy despite widespread opposition to the government’s recent adoption of a 10% withholding tax on winnings from betting, games, and the lottery.
On August 15, 2023, the contentious decision went into force, sparking a national debate. Youth in Ghana, many of whom partake in sports betting as a form of amusement and, in some circumstances, as a source of revenue, have been particularly unsupportive of the move.
Despite widespread criticism of the tax, Agyapong maintains that it is appropriate and uses the United States as an example, where the lottery and other comparable games of chance are subject to significant taxation.
10% betting tax charitable, it should have been more
Agyapong told 3Xtra, “[The 10% tax on gambling] is appropriate, and it should have been higher.” “If you go to America and win a billion dollars in the US lottery, you’d take home about $600 million because it’s free money and it’s taxable, so 10% of them have been charitable,” the author said.
"The 10% tax on bet winnings should have been more; betting is not anything good for your future"
NPP flagbearer aspirant Hon. Kennedy Agyapong shares his take on government's 10% withholding tax on winnings from sports betting and lottery.#3Xtra #TV3GH pic.twitter.com/MjuqD16v8D
— #TV3GH (@tv3_ghana) August 16, 2023
“I’ll be honest with the [youth]; betting is not good for your future; thus, there should be consequences to encourage young people to take control of their own lives rather than wasting time on games and other activities. What are you going to gain from the money you make today, which will only be temporary? Thus, we must exercise caution, he continued.
He also pleaded with the youth to give him the chance to serve as president, citing his capacity to address the urgent unemployment problem facing the nation.
Agyapong is confident that his leadership will help find practical answers that will inspire the next generation to choose more rewarding and long-lasting careers.