Group Urges Mahama To Hike Betting Tax To 50%, Says Betting Is A Vicious Cycle

• The Institute of Community Sustainability has appealed to President-elect John Dramani to not cancel the betting tax
• The group said sports betting has become a worrying phenomenon in the country and could have dire consequences for the country's youth
• The group said the President-elect should increase the betting tax to 50% from the 10% to deter young people from betting

The Institute of Community Sustainability has urged President-elect John Dramani Mahama not to scrap the sports betting tax.

The Institute, in an appeal to the President-elect, stated that rather than scrapping the tax on sports betting, the incoming government should increase it to 50%.

JoyNews reported that the Institute justified its request by highlighting the growing threat of sports betting to the well-being of Ghanaians.

It said the growing popularity of sports betting, particularly among the youth, is a threat which must be nipped in the bud before it gets out of hand.

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The group said the current 10% tax on betting is not deterrent enough to prevent young people from giving away their financial resources to these betting companies.

The group said that instituting the 50% tax on betting would help curb the popularity of bets.

The Executive Director of the Institute of Community Sustainability, Eric Jerry Aidoo, said some young people are investing large amounts of time and financial resources into betting platforms, risking up to 50% of their winnings only to lose their money

He said the situation was developing into a vicious cycle and ought to be curbed.

John Mahama promises to remove betting tax

The Institute of Community Sustainability's request contradicts John Mahama’s promise to scrap the 10% betting tax.

The then-flagbearer of the National Democratic Congress (NDC) had promised to scrap the E-levy, betting tax, and the Covid-19 levy as part of broader tax reforms.

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Mahama advises prospective appointees to stay in private sector if they can't work hard for Ghana

John Mahama stated that his government would ensure economic prosperity by resetting the economy.

He said his government would rationalise taxes by abolishing nuisance taxes and holding a national economic dialogue to develop a four-year fiscal consolidation plan.

Sam George assures betting tax will be scrapped

YEN.com.gh reported that the Member of Parliament for Ningo Pampram Sam George assured Ghanaians that most levies will be scrapped.

The MP retained his seat during the December 7 election on a National Democratic Congress (NDC) ticket. The political formation is set to form the next government after emerging victorious in the polls.

Vice President Dr Mahamudu Bawumia conceded defeat to President-elect John Dramani Mahama.

Proofread by Samuel Gitonga, Copy Editor at YEN.com.gh

Source: YEN.com.gh