Scrapping betting tax is a wrong move – ISSER to government

The Institute of Statistical, Social and Economic Research (ISSER) has spoken out against the government’s decision to remove the betting tax, calling it a wrong economic move that could have long-term negative consequences.

According to ISSER, the betting tax was a crucial revenue source for the country, and removing it will significantly reduce government income at a time when the economy needs more internal revenue streams.

"Scrapping the betting tax not only affects revenue collection but could also encourage unhealthy gambling habits among the youth," ISSER warned in a statement.

Key Concerns Raised by ISSER

???? Loss of Revenue: The government stands to lose millions of cedis from the taxation of betting companies and winnings.

???? Encouraging Gambling Culture: ISSER warns that removing the tax may increase betting addiction among young people, leading to social and financial risks.

⚖️ Missed Opportunity for Regulation: A well-structured betting tax policy could have helped regulate the industry while generating funds for national development.

Public Reactions & Stakeholder Opinions

While some betting enthusiasts have welcomed the move, economic analysts argue that Ghana needs more reliable revenue sources rather than giving up existing ones.

???? Public Viewpoints:
✅ "Scrapping the tax makes betting more attractive, but at what cost?"
✅ "The government should focus on sustainable ways of generating revenue instead of removing taxes."

Conclusion:

ISSER urges the government to reconsider its decision and explore a more balanced approach that maintains revenue collection while ensuring that the betting industry is properly regulated to avoid negative social effects.