Abolish 10% betting tax now or face series of protests – NDC Youth

The Youth Wing of the opposition National Democratic Congress (NDC) has asked the government to immediately abolish the recently imposed 10% withholding tax on all gross gaming winnings.

According to them, the “insensitive policy” will worsen the plight of the already impoverished youths.

In a press statement issued by the National Youth Organiser of the party, George Opare Addo, the NDC Youth Wing threatened series of protests should the government fail to abolish the tax.

These actions include picketing at the Ministry of Finance and other government offices across the country.

“In the face of the unjust ten (10%) taxation on bet wins, we, the young people of Ghana and the NDC Youth, declare a resolute series of actions to resist the burdensome and insensitive policy.”

“Our unity is unwavering and our determination to protect the funds of the young people secured through betting is unyielding.”

“Through agitations, protects, agitations and advocacy and civic engagements, we will ensure our voices are heard and demand that this corrupt Akufo-Addo/Bawumia government rescind its decision,” excerpts of the release said.

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The Ghana Revenue Authority (GRA) on Tuesday, August 15, commenced the implementation of a 10% withholding tax on all gross gaming winnings.

According to the GRA, the withholding tax will be charged on profits accrued after each win and that the existing 15% Value Added Tax (VAT) rate on each stake will no longer be charged.

The GRA said that the new policy is in line with an amendment to the Income Tax Act 2023 (No.2), Act 1094.

Speaking at a media engagement session, the Commissioner for the Domestic Tax Revenue Division at the GRA, Edward Gyamerah, said that gaming companies that fail to comply with the new policy will face sanctions, including the withdrawal of their licenses.

Meanwhile, many Ghanaians on social media have expressed their displeasure about this.

According to him, the policy was not well thought through and seeks to “steal” their money.

Source:myjoyonline.com