Edward Gyambra, the commissioner in charge of the Ghana Revenue Authority’s Domestic Tax Revenue Division, has voiced hope for the potential of the new tax the government will impose on gaming and sports betting.
He claims that within a month of the Authority implementing the bet tax, it had brought in GH15 million.
As a result, he is optimistic that the Authority will reach its goal of GH60 million before the end of the football season.
“We have two streams of taxes: the gross revenue tax and the withholding tax. During the first month of implementation, we averaged GH¢20 million for the GGR. As for the withholding tax, we’ve just started the betting season, but during the lean season, we averaged GH¢15 million. We anticipate this to quadruple by May,” he explained as quoted by citinewsroom.com.
GRA introduced a 10% withholding tax on all betting, games, and lottery wins from August 15, 2023, with a target of GH¢400 million.