CEO of the Ghana National Chamber of Commerce and Industry (GNCCI), Mark Badu Aboagye, has proclaimed that the recent betting tax rate is useless in suppressing gambling scheme in the country.
According to him, the recent 10 percent tax rate is not enough and will not depress people from engaging in betting activities.
Mr. Badu Aboagye hoist treats about the socioeconomic factors driving many people into betting, stressing the lack of possible sources of income.
Talking on Joy News’ PM Express Business Edition on Thursday, January 23, he said that the authorities should regard increasing the tax if it truly aims to discourage people from betting.
“If you want it [betting tax] to be effective, you rather have to increase it. Otherwise, it is totally a waste,” Mr. Aboagye noted.
“The issue has to do with whether those who are involving themselves in the burden, whether they have alternative sources of income. They don’t have alternative sources of income, so now they will do that,” he explained.
“If you bet, you are not adding significantly to the national income. But if you are productive, you are within the agriculture sector, in the manufacturing sector, you’re making your money, and you’re also adding it to the GDP,”.
He additionally pointed out that betting does not put up significantly to national economic growth related to other productive areas.
While, the Mahama authorities has make public its purpose to wisp the betting tax once it presents its first budget in March.
The progress has set off debate on whether put an end to the tax would encourage more betting or if alternative strategies should be adopted to labeling the issue.
Mark Badu Aboagye narrates betting as an emotional activity that lacks productivity, saying, “The betting is people being emotional with somebody sitting in his/her home when there’s no productivity.”
Source: Chaleradio.com