Felix Kwakye Ofosu claims that in an effort to lessen the financial strain on young people, the government has eliminated taxes on earnings from gambling.
Speaking on Joy Prime, he clarified that it is unfair to place further financial restrictions on young people’s incomes because many of them turned to betting as a result of financial difficulties.
“We find that there were many youth who were driven into that activity because of hardship and the need for them to find something to do to make ends meet. It is not the most desirable of occupations or hobbies, but at the moment, many people are finding solace there.
“Do you create difficulty for them by going to tax their mere winnings when you have not been able to give them employment, and they are struggling to find their feet?” he asserted.
“As for the betting companies, there’s no way they are escaping taxation. We are taxing them on their earnings like any other business, so they pay corporate income tax and are subject to all other taxes that apply to businesses,” he said.
He promised that although people are not taxed on their profits, betting businesses will still be subject to taxes just like any other company.
Source: newsthemegh.com