Economist and Director of Research at the Institute of Economic Affairs (IEA), Dr. John Kwakye, has firmly asserted that betting must be taxed, warning that failing to do so is both reckless and detrimental to the economy.
In a compelling post on his X page, he declared, “Betting is poised to become a significant component of the economy, presenting a substantial opportunity for tax revenue. Allowing betting to remain untaxed is unequivocally fiscally irresponsible and, indeed, suicidal!”
His comments come as the Mahama administration seeks to remove the 10% betting tax, following a campaign promise made during the 2024 election period.
Betting will become an increasing part of the economy with a huge tax revenue potential. Leaving betting untaxed would, therefore, be fiscally ill-advised and, indeed, suicidal!
— J. K. Kwakye (@JohnKwabenaKwa1) February 11, 2025