The government has scrapped taxes on betting winnings to ease financial burdens on the youth, according to former Deputy Information Minister Felix Kwakye Ofosu.
Speaking on Joy Prime monitored by MyNewsGH, he explained that many young people turned to betting due to economic hardships, making it unfair to impose additional financial constraints on their earnings.
“We find that there were many youth who were driven into that activity because of hardship and the need for them to find something to do to make ends meet. It is not the most desirable of occupations or hobbies, but at the moment, many people are finding solace there.
“Do you create difficulty for them by going to tax their mere winnings when you have not been able to give them employment, and they are struggling to find their feet?” he questioned.
He assured that while individuals are exempt from taxation on their winnings, betting companies will continue to be taxed like any other business.
“As for the betting companies, there’s no way they are escaping taxation. We are taxing them on their earnings like any other business, so they pay corporate income tax and are subject to all other taxes that apply to businesses,” he clarified.
