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All is set for the implementation of Ghana’s 10% tax collection on bet and lottery winnings in the country. After a series of back and forths, the new 10% tax will now take full force from August 15th 2023.
To communicate seriousness in implementation, the Ghana Revenue Authority, GRA has nationwide issued a notice that the long-discussed new 10% withholding tax on all betting, games and lottery wins will not go back on August 15th implementation.
10% Tax Collection: Background
Recall that in April of this year, this tax came into the picture as a result of the amended Tax Act that introduced a withholding tax on winnings from sports betting and lottery intending to rake in a massive GHC 1.2 million from lottery activities.
However, it is also pertinent to state that the proposed tax has met with resistance, especially from the younger population on social media. These young ones are likely to be the most affected by this policy as they are involved more in betting.
It is worthy of note that in recent years and due to the teeming young populace in Ghana, the betting industry has been on the rise and rise. This has led to the spring up of many local and international betting firms in Ghana.
On the flip side, others hold that betting is legal and therefore cannot be described as a bad practice if it is operated within the confines of the law.
Reaction Trails Implementation
Earlier this year, actor and politician John Dumelo talks tough on the government for introducing such a tax .
Dumelo reiterated that what the government should be doing is creating job opportunities for the youth, rather than taking more from them through taxes.
See reactions from Dumelo and young Ghanaians on Social Media
Since the certainty of the August 15th implementation, the Africa Tax Review Team has been able to gather the varying opinion of youths in Ghana about the tax.
See them below:
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