Mahama Reacts To Taxing Sports Betting

Flagbearer for the NDC, John Mahama, says taxes on betting will be among the taxes his government will review when voted into power.

The bill to tax sports betting and lottery was passed in March 2023.

Per the bill, ten percent of all winnings from sports betting and lotteries is deducted as tax.

Many punters have since condemned the policy.

Asked whether the tax will be scrapped during an engagement with the youth at Techiman Timber Market and the Techiman Magazine, Mr. Mahama who was unable to clearly indicate his stance said the tax will be reviewed.

“It is not just about taxes on betting, when we come to government we will look at the number of taxes imposed,” he added.

The former president is currently on a “Building Ghana Tour” in the Bono East region.

Meanwhile, concerns raised by citizens during the campaign tour is expected to be factored into the NDC’s manifesto for the 2024 election.

 

 

Background

The Ghana Revenue Authority (GRA) on August 15, 2023, began implementing a 10% withholding tax on all gross gaming winnings.

The GRA explained that the withholding tax will be charged on profits accrued after each win and that the existing 15% Value Added Tax (VAT) rate on each stake will no longer be charged.

The GRA said that the new policy is in line with an amendment to the Income Tax Act 2023 (No.2), Act 1094.

Speaking at a media engagement session, the Commissioner for the Domestic Tax Revenue Division at the GRA, Edward Gyamerah, said that gaming companies that fail to comply with the new policy will face sanctions, including the withdrawal of their licenses.

 

 

THANK YOU for constantly reading stories on MyGhanaMedia.com, a news publishing website from Ghana. Kindly like, follow, comment, and SHARE stories on all social media platforms for more entertaining updates!