John Mahama, flagbearer of the National Democratic Congress (NDC), has vowed to eliminate the 10% withholding tax on sports betting and lottery winnings if he wins the upcoming presidential election.
The tax, introduced in August 2023 by the ruling government has faced significant backlash from the public, particularly the youth. The tax is levied at the payout point for all betting, games, and lottery wins, aiming to boost domestic tax revenue amid the country’s economic challenges.
In response to growing discontent, Mahama, during the NDC’s Town Hall meeting at the Bukom Boxing Arena on Monday, August 12, 2024, reiterated his stance against the tax.
“We’ve talked a lot about this; if we come, we will abolish the betting tax,” Mahama said. “We know that this government has signed a deal with the IMF to initiate the betting tax, but when we come, we will find an alternative revenue source to replace the betting tax.”
The Domestic Tax Revenue Division of the Ghana Revenue Authority (GRA) reported in October 2023 that the tax had generated GH¢15 million within its first month. Despite this, the tax has been criticised for its impact on the youth, who have expressed concerns about its effects amid high unemployment rates.
Mahama’s promise comes as part of his broader campaign strategy to address economic issues and improve the livelihoods of Ghanaians. He will face competition in the December 2024 elections from Dr. Mahamudu Bawumia of the ruling NPP, Nana Kwame Bediako of The New Force, and Alan Kwadwo Kyeremateng of the Movement For Change among others.
The outcome of the election will determine whether the controversial tax remains or is abolished, as promised by Mahama.
The post John Mahama vows to abolish 10% sports betting task first appeared on 3News.
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