LR John Mahama and Franklin Cudjoe

IMANI Africa President Franklin Cudjoe has expressed concerns over National Democratic Congress (NDC) leader John Dramani Mahama’s promise to abolish betting tax if he wins the 2024 general elections.

Cudjoe believes that while reducing the tax rate would make sense given its current high level, eliminating it entirely could lead to economic hardship. He stressed that government operations depend on tax revenue and eliminating this source of revenue would not be beneficial.

According to a report by myjoyonline.com, he also stressed that the high tax rate is causing dissatisfaction among young people whose income depends on betting.

“Despite the economic challenges, I don’t agree that we should completely abolish taxes on betting winnings. He can adjust the tax downwards. Some of the guys complained and I understood them because they argued: ‘You as a government are not creating jobs for me, the little joy I get from betting is being taken away by taxes.’ Of course we don’t want that, but I think there has to be a middle ground,” he is quoted as saying by myjoyonline.com.

Cudjoe also said Mahama should have proposed a change in the tax rate instead of abolishing it altogether.

“John Mahama should have said, ‘Look, taxes have to be introduced to generate revenue for the country; however, the tax rate will be adjusted.’ I would have agreed with that, but abolishing taxes is more political talk,” he added.

Mahama’s election promise to abolish the betting tax has been well received by young people, who are excited by the prospect of being able to earn money without deductions in the future.

Many sports enthusiasts who engage in betting have praised the NDC candidate for his initiative and expressed their intention to vote for him.

Betting has become a popular activity among sports fans as it provides an opportunity to make money by placing bets on various online games.

The youth have sharply criticized the Akufo-Addo-led government for introducing the betting tax.

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SB/ADG