A Member of Parliament for Sagnarigu, Issah Atta has justified the National Democratic Congress' decision to scrap the 10% tax on bet winnings.
The MP while making an economic and fiscal analysis of the decision to scrap the tax explained that it is necessary for people to be encouraged to bet in order to increase their disposable income which in the long run increases the volumes of transactions for the betting companies to enable government receive corporate income tax from these companies. "The scrapping of this E-levy and betting tax increases the disposable income of people.
Once they have enough revenue, they can bet and if they bet, the volumes of transactions in the betting companies will increase for you to get the same amount to the corporate income tax," he explained in an interview on TV3's Hot Issues, Sunday, March 16.
The member of the finance committee in Parliament stressed that the concept of morality was not considered by the NDC in their decision to scrap the betting tax.
