L-R John Mahama and Franklin Cudjoe
The President of IMANI Africa, Franklin Cudjoe, has expressed his concerns regarding National Democratic Congress (NDC) flagbearer John Dramani Mahama's pledge to eliminate the betting tax if he wins the 2024 general elections.
Cudjoe believes that while reducing the tax rate would be prudent due to its current high level, completely abolishing it could result in economic challenges.
He stressed that government operations depend on revenue generated from taxes, and eliminating this source of income would not be beneficial.
He also pointed out that the high tax rate is causing discontent among young people who rely on betting for income.
“Despite the economic challenges, I do not agree that we should completely remove taxes on betting winnings. He can lower the tax instead. 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 said, as 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.
Meanwhile, Mahama's campaign promise to eliminate the betting tax has been well-received by the youth, who are pleased at the idea of earning their income without deductions.
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