It Is Making the Youth Lazy In Ghana: Osei Kyei Mensah-Bonsu Backs Tax on Betting Winnings

The Majority Leader in Parliament, Osei Kyei Mensah-Bonsu, has defended the rationale behind taxing winnings from betting and lottery activities, asserting that such a move is essential to prevent potential corruption of Ghana’s youth.

Mensah-Bonsu contended that unregulated betting could lead to detrimental consequences for the nation’s younger generation.

Speaking during an interview on Kumasi-based Angel FM, the Suame MP labeled betting as a “lazy adventure” that lacks encouragement for hard work.

He expressed his concerns that such activities could contribute to the deterioration of the country’s work ethic.

Mensah-Bonsu emphasized his belief in the virtues of hard work, suggesting that relying on luck through betting contradicts the principles of industriousness. He encouraged Ghana’s youth to dedicate themselves to diligent efforts instead of resorting to betting as a source of income.

“I don’t believe in betting. I don’t believe in luck. I believe in hard work and sweating to get money. Let’s be serious. As for me, I’m against betting coming into the country. I don’t support it because it doesn’t encourage hard work,” he stated.

Osei Kyei Mensah-Bonsu

The Ghana Revenue Authority (GRA) recently unveiled plans to implement a 10% withholding tax on gross gaming winnings, commencing from August 15, 2023.

The Authority’s decision seeks to shift from the previous 15% Value Added Tax (VAT) on each stake. Instead, the focus will be on taxing earnings accrued after each betting victory.

Edward Gyamerah, Commissioner of the Domestic Tax Revenue Division at the GRA, highlighted the significance of the new policy.

He warned that any gaming company failing to adhere to the regulations would face punitive consequences, including fines and potential revocation of licenses.

Mensah-Bonsu’s stance on the taxation of betting winnings comes as part of the ongoing discourse around responsible gambling practices and the potential societal impacts of such activities.