The directive, which became effective on August 15, 2023, has generated discontent among many individuals who frequently engage in sports betting, commonly referred to as investors.
For them, betting serves as a means to secure supplementary income, aiding them in navigating the ongoing economic challenges. Several investors have not hesitated to express their dissatisfaction with this development.
Pulse Ghana spoke to some bettors in Accra;
STEPHEN
“If I win 100gh, the government takes 10gh, that’s not as painful as when I win 5k, meaning the government will be taking 500, just imagine. The government didn’t provide any funds to stake the bet but want to share in the wins. When I stake and I lose, I lose alone but when I win, the government wants their share and that’s unfair, I’m highly disappointed”
PIERRE
“There’s hardship in the country and this is something boys do to take care of small needs. The money we earn from work is already taxed and now our wins are being taxed. Meanwhile in this betting game the losses are more than the wins, so I’m going to be taxed on my monthly income, taxed on my investments and taxed when I go to withdraw the money is that not too much taxes?”
The implementation of a 10% tax on sports betting wins in Ghana has led to a chorus of discontent from those who participate in the activity.
Their grievances stem from what they perceive as an inequitable distribution of the financial burden, where the government benefits from successful bets without sharing in the losses.
The new tax directive has ignited discussions about the balance between taxation and personal financial challenges, prompting debates about the appropriate level of taxation for this form of entertainment.