Sammi Awuku Expresses Excitement over Betting Tax Scrapping
The former Director-General of the National Lottery Authority (NLA), Sammi Awuku has expressed excitement over the current government’s decision to scrap the 10% Withholding Tax on winnings on all betting and lotteries.
The Member of Parliament for Akuapem North Constituency who has been vocal about his opposition to the tax introduced by his government in 2023 indicated that the move was bound to fail.
According to him, the fact that it failed in other jurisdictions was reason enough for the government to have abandoned the idea.
“I’ve been consistent about it, even during the NPP era, and I said it is something that personally has not worked in many of the jurisdictions anytime you have introduced taxes on betting,” he said in an interview with Graphic.
He continued, “I’m excited that the betting tax is going to be scrapped.”
The lawmaker believes it was a wrong move as the NLA is state-owned.
“Lottery was part of the betting tax. The National Lottery Authority, for instance, is owned by the government, and apart from the things that they do, at the end of the day, they must also contribute to the national kitty.”
On August 15, 2023, the 10% Withholding Tax on winnings on all betting and lotteries took effect on winnings on lotteries, sports betting, and games of chance at the point of payout.
Also, betting companies operating in the country are deducted a 20% tax on gains.
The tax which falls under the Income Tax Amendment Act 2023, Act 1094 is one of the three taxes that were approved on March 31, 2022, by Parliament.
Source: opemsuo.com/Hajara Fuseini
