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The Head of the Public Relations Unit of the National Lottery Authority (NLA) reiterated that sports betting is regulated by the Ghana Gaming Commission under Law 721, while the lottery is governed by the NLA Law under 722.
He said that many foreign companies operate sports betting without paying taxes to the state as required by law and there is a need to fish them and make them pay the taxes.
In addition to the required license fees that these foreign sports betting companies paid to the Ghana Gaming Commission, he said that they also contributed insignificantly to government revenue mobilization efforts, hence the need for their impose taxes.
In an interview with the Ghana News Agency in Accra, Mr. Razak Opoku said that foreign sports betting companies had repatriated their profits to their respective countries, causing the flight of capital, which in turn affected the economy. strength and performance of the local currency, Ghana Cedis.
He said lottery operations under Law 722 were limited to only Ghanaian or partially owned companies, however, sports betting operations under Law 721 mainly targeted foreign companies.
Mr. Razak Opoku said that the Akufo-Addo government’s introduction of the sports betting tax was aimed instead at foreign companies in order to reduce the capital flight associated with the sports betting industry.
He said: “Sports betting with responsible gambling as a benchmark aimed at increasing revenues for the collective benefit of the government and its citizens can never be described as morally wrong.”
Mr Razak Opoku disagreed with Mr Cassiel Ato Forson, a former deputy finance minister for accusing the government of not banning sports game companies.
He alleged that Mr. Forson, then Deputy Minister of Finance, had every opportunity to take measures to completely repeal Law 722 on the national lottery since the Ministry of Finance was responsible for overseeing the NLA.
“For the sake of clarity and focus, during the administration of former President John Dramani Mahama with Mr. Forson as deputy finance minister, imposed a 5 percent withholding tax on lotto winnings, the highest ever after reclassification of lotto as an investment activity.
“Again, this administration with Mr. Forson as deputy finance minister imposed a 7.5 percent tax on the 20 percent commission paid to Ghanaian lotto marketing companies, also the highest ever. achieved, “said Mr. Razak Opoku.
Mr Razak Opoku said it took the Akufo-Addo government to abolish the 5% withholding tax on lotto winnings and 7.5% commission tax paid to lotto marketing companies, adding that the 5% and 7.5% taxes were abolished in the 2018 “ Adwuma ” Budget.
He alleged: “It is utterly unacceptable and morally wrong for Mr. Forson, who was part of the very government that imposed 5 and 7.5 percent taxes on the lottery, to criticize the Akufo-Addo government for have taxed sports betting.
Mr. Razak Opoku said, “God created all that exists through words and numbers and all knowledge gained is through words and numbers. Our daily transactions, exchanges and communications are based on words and numbers.
Lotteries and sports betting deal with the digital aspect of creation aimed at generating income for national development, and for human financial empowerment, there is absolutely nothing wrong with lotteries and games. sport bets.
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