The NDC strongly objects to the 10% bet tax, according to Sammy Gyamfi.

The National Democratic Congress (NDC)’s National Communications Officer, Sammy Gyamfi, has stated that the major opposition party is adamantly opposed to the current government’s 10% tax.

The betting tax went into effect on Tuesday, August 15.

According to Sammy Gyamfi, sports betting has become a necessary evil “given the state of hopelessness, joblessness, and excruciating hardships that Ghanaian youths have been plunged into by the insensitive and reckless Akufo-Addo/Bawumia/NPP government.”

“Taxing bet winnings under the current excruciating economic conditions Ghanaians are facing, particularly the high rate of inflation of 43.1% and the highest unemployment rate among others, is insensitive and totally unacceptable,” he said in a statement clarifying his earlier comments on sports betting.

“The government should be creative in its efforts to increase tax revenue and end this lax approach to taxation.” If the government wants to raise tax revenue from betting, it should focus on taxing multinational/foreign bet companies as it applies in the UK and other jurisdictions, rather than poor Ghanaian youths who have been forced by the country’s harsh economic conditions to seek refuge in sports betting for their very survival.”

His whole statement is below…

Esq Sammy Gyamfi writes:

In the run-up to the 2020 elections, certain NPP social media activists have made desperate attempts to distort a comment I made concerning sports betting.

In response to a question on how the NDC plans to fund the Sports Development Fund proposed in our 2020 platform, I stated in the aforementioned interview that the NDC will consider placing a tax on sports betting “as it is done in the UK.”

So, the issue that every impartial thinker should ask is, what is the law in the United Kingdom about sports betting taxation?

The solution is straightforward!
Bet winnings are not taxed in the United Kingdom. Betting companies, on the other hand, are heavily taxed. See https://www.newbettingsites.co/articles/how-much-tax-do-betting-companies-pay/ for more information.

This is the example I used, and it is something that a future NDC government will think about after 2020. The new 10% tax on bet winnings imposed by the Akufo-Addo/Bawumia/NPP government is the polar opposite of what exists in the UK and the stance I advocated for in 2020. Don’t be duped!

For the purpose of clarity and emphasis, the NDC is adamantly opposed to the Akufo-Addo/Bawumia/NPP government’s 10% tax on bet winnings.

1. Sports betting, while undesired, has become a necessary evil given the state of hopelessness, joblessness, and agonising miseries that Ghanaian youngsters have found themselves in as a result of the callous and reckless Akufo-Addo/Bawumia/NPP regime.
2. Taxing bet wins in light of Ghanaians’ current dire economic conditions, including the high rate of inflation of 43.1% and the greatest unemployment rate, among other things, is insensitive and completely unacceptable.
3. The government should be creative in its efforts to generate tax collection and put an end to this lax approach to taxing. If the government wants to earn tax revenue from betting, it should concentrate on taxing multinational/foreign bet companies as it applies in the UK and other jurisdictions, rather than poor Ghanaian youngsters who have been forced to gamble due to terrible economic conditions.
4. More crucially, the NPP’s new 10% tax on bet winnings violates the government’s social contract with Ghanaians. The social compact states that “taxation is a lazy approach to governance” and that an NPP government will “reduce the tax burden on Ghanaians” and transition the country from “taxation to production.”
5. Contrary to this commitment, the present NPP government has implemented over 25 tax handles since taking office in 2017–a flagrant breach of Ghanaians’ faith. These taxes have combined to make living unpleasant for the vast majority of Ghanaians, particularly the youth.
6. The NDC will not and cannot support the NPP’s continuing double standards on taxation.

5. Without a question, sports betting has become a haven for millions of Ghanaian unemployed youngsters who have been forced to rely on betting for survival due to the NPP’s economic mismanagement. As a result, imposing a 10% tax on wager wins is cruel. Given the current economic situation, the NDC strongly supports requests for the quick repeal of the newly imposed 10% tax on wager wins.

This is the official stance of the great NDC on the recently enacted 10% tax on bet winnings.

Mr. Sammy Gyamfi, Esq.

National Public Relations Officer

National Democratic Convention