By Kwame Bediako
Sport and Recreation Minister-designate Kofi Adams has announced plans to eliminate the ten percent tax on betting winnings.
Speaking on Sporty FM, Kofi Adams made it clear that taxing individual winnings is not a sustainable practice, especially when betting companies are already subjected to taxation.
Adams expressed his views on the taxation policy, stating, “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.”
The issue of betting taxation became a pivotal topic during the recent 2024 elections, where a substantial number of Ghana’s youth rallied behind President John Mahama. Many voters viewed the ten percent tax as an exploitative measure, arguing that it unfairly targeted their primary source of income amid rising unemployment rates.
The NDC’s promise to abolish the betting tax was a key factor in mobilising the youth vote, reflecting a desire for economic relief and more favourable policies. The Buem MP’s commitment is likely to be welcomed by many young Ghanaians who see gambling as a legitimate means of earning income in a challenging job market. The elimination of this tax may provide a much-needed boost to their financial prospects.
