Ghana Implements 10% Tax on Betting and Lottery Winnings Starting August 15


In a move aimed at increasing government revenue and ensuring tax compliance, the Ghana Revenue Authority (GRA) has announced the implementation of a 10% withholding tax on all betting, games, and lottery winnings.

This new directive, which was included in an amendment to the tax act, will take effect from August 15, 2023.

The GRA has stated that the implementation of this tax is necessary to generate additional funds for national development.

According to their estimations, they expect to generate approximately GHC 1.2 million from lottery activities alone.

This decision by the government comes after they announced plans in April to introduce taxes on all betting, games, and lottery wins.

However, the introduction of this new tax has faced criticism, particularly from young Ghanaians who are heavily involved in sports betting.

Many took to social media platforms to express their discontent with the new directive.

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While the introduction of the 10% tax might be seen as a burden by some, proponents argue that it is a necessary measure to ensure the sustainability and fairness of the industry.

By implementing this tax, the government aims to regulate the sector and ensure that appropriate taxes are paid on gambling proceeds.

Additionally, the revenue generated from this tax will contribute to funding various development initiatives across the country.

The funds can be utilized for infrastructure development, education, healthcare, and other essential sectors that require financial support.

The GRA has already begun the process of educating the public and relevant stakeholders about the new tax law.

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They aim to promote compliance and encourage individuals and organizations involved in the betting and lottery industry to understand their tax obligations.

As August 15 approaches, Ghanaians involved in the betting and lottery sectors are urged to familiarize themselves with the new tax legislation and comply accordingly.

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