L-R John Mahama and Franklin Cudjoe
The President of IMANI Africa, Franklin Cudjoe, has voiced his concerns regarding National Democratic Congress (NDC) flagbearer John Dramani Mahama's promise to eliminate the betting tax if he wins the 2024 general elections.
Cudjoe believes that while reducing the tax rate would be wise due to its current high level, completely removing it could lead to economic difficulties. He emphasised that government operations rely on revenue generated from taxes, and eliminating this source of income would not be advantageous.
According to a report by myjoyonline.com, he also highlighted that the high tax rate is causing dissatisfaction among young people who depend on betting for income.
“Despite the economic challenges, I do not agree that we should completely remove taxes on the winning cash of betting. He can revise the tax downwards. Some of the boys were complaining and I understood them because they argue that ‘you are not creating jobs for me as a government, the little joy I get from betting, you tax the joy away’. Of course, we don’t want that, but I think there has to be a middle ground,” he is quoted by myjoyonline.com.
Cudjoe further suggested that Mahama should have proposed revising the tax rate instead of eliminating it entirely.
“John Mahama should have said ‘Look, taxes must be implemented to generate revenue for the country; however, the rate will be revised’. I would have agreed to that but in terms of doing away with it, that is more political talk,” he added.
Mahama's campaign promise to scrap the betting tax has been well-received by the youth, who are pleased at the prospect of earning their income without deductions.
Many sports enthusiasts who engage in betting have praised the NDC flagbearer for his initiative and have expressed their intention to vote for him.
Betting has become a popular activity among sports fans as it provides a way to earn income by placing bets on various online matches.
The youth have heavily criticised the Akufo-Addo-led administration for introducing the betting tax.
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