The Ghana Revenue Authority (GRA) has formally declared the initiation of a 10% tax on all proceeds from sports betting and lottery wins, slated to come into force starting August 15.
This strategic move aligns with the government’s comprehensive approach to expand the tax framework and amplify the generation of domestic revenue.
This pivotal decision came into the spotlight upon the approval of three novel bills by Parliament in March 2023.
These bills encompass the Excise Duty Amendment Bill 2022, the Growth and Sustainability Levy Bill 2022, and the Income Tax Amendment Bill 2022.
With the imminent enforcement date drawing near, the GRA is prompting individuals actively involved in sports betting and lottery ventures to acquaint themselves with this fresh policy shift and ensure full adherence.
While this stride is engineered to invigorate the nation’s monetary inflow, certain Ghanaian devotees of sports have voiced apprehensions about the plausible ramifications of the tax imposition on their triumphant hauls
