Renowned economist and academic, Professor Stephen Adei, has called for the betting tax in Ghana to be increased to 50%, rather than reduced, as suggested in recent debates. Speaking on the Hot Issue on TV3, Prof. Adei highlighted the potential social and economic ramifications of the growing betting culture in the country.
His suggestion comes amidst public outcry over the impact of the 10% tax on betting winnings introduced earlier this year by the NPP government. While some stakeholders in the gaming industry advocate for a cancellation of the betting tax, Prof. Adei’s position reflects a broader concern about the long-term implications of gambling on the country’s youth ” Betting is a disastrous habit that needs to be discouraged”
He argued that a higher tax rate on betting activities would not only generate increased revenue for the government but also serve as a deterrent to the youth who are heavily involved in gambling.
