‘Govment no create jobs, but dem wan collect 10% tax if I cash out from bet’
Young Ghanaians who dey play various types of sport betting dey vex plans by govment to introduce 10% tax on bet winnings.
Dis be after Ghana parliament approve three taxes which dey include one on lottery, betting and gambling.
Dis new tax measure be part of govment efforts to generate revenue, but for de youth dis be unfair move.
“No jobs in de country, we dey bet to get money too now dem dey try charge tax on our winnings’ Nawal talk BBC Pidgin.
“Because dem see say people dey make little or sometimes huge monies from betting to save, dem want introduce tax” he add.
Nawal en sentiments dey reflect how most investors for Ghana dey feel.
If dis law finally see de light of day, betting companies go deduct 10% from de before de go pay out to winners.
For investors feel de move by govment be totally unfair sake of most of de time dem dey lose dia bets, so collecting tax when dem win once a while be wrong.
End of Di one wey oda users dey read well well
“Sometimes I fit dey play bet like 10 times before I go fit cash out one time, so if I spend Ghc1000 on betting wey finally I win Ghc1000 govment wan take 10%” Reginald lament.
“Dis be totally unfair, already I lose money so once a while I win money govment go come take some, dem really dey stress we” he add.
How new Income Tax Amendment Bill go affect sports betting
Wia dis foto come from, Betway Ghana/Facebook
De Income Tax Amendment bill dey try amend de Income Tax Act, 2015 (Act 896).
What govment dey do be say dem wan revise de rate of income tax for individuals and introduce an additional income tax bracket.
According to govment dis be withholding tax rate on de realisation of assets and liabilities and on winnings from lottery, betting and gambling.
De other impact dis tax go have be say e go affect gains individuals go make from investment asset, revise de upper limits for quantification of motor vehicle benefits.
Despite de opposition, govment of Ghana dey see dis move as part of expectations IMF dey wan see as part of internal revenue generation in de country.
Wetin dis International Monetary Fund loan mean for Ghana economy
IMF staff and Ghanaian authorities reach staff-level agreement on economic policies and reforms of $3 billion for three-year Extended Credit Facility (ECF) around December 2022.
According to de IMF, dia support to Ghana dey target restoring macroeconomic stability and debt sustainability while protecting de vulnerable, preserving financial stability den laying de foundation for strong recovery.
Stéphane Roudet, Mission Chief for Ghana talk say de monies for de bailout go hit Ghana as soon as dem get Executive level agreement.
“De staff-level agreement dey subject to IMF Management and Executive Board approval den receipt of de necessary financing assurances by Ghana’s partners and creditors,” Stéphane Roudet add.
