A member of the Gaming Committee at the Ghana Revenue Authority (GRA), Spio Abaidoo, has said government may generate about GH¢400 million in revenue from the newly introduced gaming tax.

The new tax, which seeks to charge 10 percent on bets and lotto wins will be deducted from source.

In an interview with Citi News, Spio Abaidoo said, “They are the withholding agent by law of the Commissioner General. So, they will withhold and pay same to the Commissioner General on the 15th of every month. The amount since 2021 was around 400, so it was suggested that it also includes the gross gaining revenues from the entities. We are looking at something that is close to more than 400 million.”

The Ghana Revenue Authority (GRA) on Tuesday, August 15, 2023, started the implementation of the 10% withholding tax on all gross gaming winnings.

The revenue collection body noted that the new policy was in line with an amendment to the Income Tax Act 2023 (No.2), Act 1094.

It will be recalled that in April this year, government announced plans to introduce taxes on all betting, games and lottery wins.

The new tax was widely criticised by some Ghanaians on social media, many of whom were involved in sports betting.

SA/NOQ

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