Concerned Voters Movement commends govt for restoring 25 per cent commission to Lotto Marketing Companies
The Founder and President of Concerned Voters Movement, Mr Razak Kojo Opoku, has stated that the move by the government to restore the 25 per cent commission to Lotto Marketing Companies is a great move that will revive the industry and generate additional revenue for the state.
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He said additionally the removal of five per cent Withholding Tax on Lotto Prizes would also make the National Lotteries more attractive to patrons and increase revenue mobilisation to the Consolidated Fund for national development.
In a statement issued and signed by Mr Opoku whose organisation has kept an eagle eye on the operations of the National Lotteries in recent times, described lottery as one area that could generate employment and rake in more revenue for the state if the right policies and programmes were implemented.
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The Minister of Finance in the 2018 income and expenditure statement of the government to Parliament last week announced the restoration of the 25 per cent commission to Lotto Marketing Companies and the withdrawal of the five per cent withholding tax.
He explained that since the passage into law of the National Lotto Act, 2006 (Act 722) and Lottery Regulation, 2008 (L.I. 1948), this was the first time that the Board and Management of NLA led by Mr Kofi Osei-Ameyaw had decided to register and license the operators, agents, sub-Agents and Writers of Banker-to-Banker Lottery under Public-Private Partnership Agreement.
This, he explained, would afford other law abiding parties the opportunity to operate legitimately and pay their taxes to government in order to increase revenue mobilisation for Government through lottery as well as create jobs for people who were interested in private lottery.
Fighting Crime
“This laudable initiative will help government to join forces with the Licensed Banker-to-Banker Lotto Operations to identify and fight against money laundering and recalcitrant ones including foreigners who are doing Banker-to-Banker Lottery in the Country”, he added.
Recounting some of the recent initiatives in the NLA, he said within the few months in office, Kofi Osei-Ameyaw and the Board of NLA have paid over GHC 26 Million into the Consolidated Fund as compared with the GHC 16 Million, which was paid into the Consolidated Fund for the whole 2016.
He mentioned that the 30, 000 modernised lotto kiosks known as E-Kiosk introduced by the current NLA board to be dotted around the country was a multi-purpose centre which would be used for the staking of Lotto, receiving point for the payment of electricity bills, water bills, revenue collections for Ghana Revenue Authority as well as for banking transactions.