The former president, John Mahama has said a 10 per cent tax on sports betting is daytime robbery. He says if sport belting is a crime, then it needs cancellation and not a high tax. He disclosed this at Techiman Timber market in the Bono East region during his visit.
NDC leader John Mahama says that if his government is elected, taxes on gambling will be one of the measures it reviews. In March 2023, a law to tax lotteries and sports betting was approved.
Ten per cent of all wins from lotteries and sports betting are withheld for taxes, as per the bill. Since then, a lot of players have criticized the policy. On August 15, 2023, the Ghana Revenue Authority (GRA) started levying a 10% withholding tax on all gross gains from gambling.
The GRA clarified that the current 15% Value Added Tax (VAT) rate on each stake will no longer be applied, and that withholding tax will instead be assessed on winnings that are accumulated after each victory.
According to the GRA, the new policy is compliant with an Act 1094 revision to the Income Tax Act 2023 (No. 2).
Gaming enterprises that do not comply with the new policy may face fines, including licence loss, according to Edward Gyamerah, Commissioner for the Domestic Tax Revenue Division of the GRA, during a media interaction session.
NDC presidential candidate, and former president, John Mahama says that if his government is elected, taxes on gambling will be one of the measures it reviews. In March 2023, a law to tax lotteries and sports betting was approved. The former president says over 10 per cent tax on my belting is just daytime robbery
When asked if the tax would be eliminated during a meeting with young people at Techiman Timber Market and Techiman Magazine, Mr. Mahama, who was unwilling to state with certainty where he stood, replied that it would be examined.
“It is not just about taxes on betting, when we come to government we will look at the number of taxes imposed,” he stated.
In the meanwhile, the NDC’s 2024 election platform is anticipated to take into account public concerns expressed on the campaign trail.
The GRA clarified that the current 15% Value Added Tax (VAT) rate on each stake will no longer be applied, and that withholding tax will instead be assessed on winnings that are accumulated after each victory.
According to the GRA, the new policy is compliant with an Act 1094 revision to the Income Tax Act 2023 (No. 2).
Gaming enterprises that do not comply with the new policy may face fines, including license loss, according to Edward Gyamerah, Commissioner for the Domestic Tax Revenue Division of the GRA, during a media interaction session.
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