Goods, services, and products are taxed by the Ghanaian Government day in and day out. Which has brought about paying of tax on all winnings from betting on sports and lotteries.
The Ghana Government, realizing the amount of money people make from betting on sports and lotteries, has proposed a 10% winning tax payout after winning bet in the country.
They demand 10% of every amount a gambler wins from betting and lotteries. That implies that 90% of the money goes to the gambler while 10% is donated to the Ghana Revenue Authority.
The Ghana Revenue Authority contend that people who use gambling and betting facilities will be subject to taxation, and this tax is a VAT that needs to be reported.
Also, GRA made it plain to the betting companies that they needed to impose VAT and other fees on their customers. A sanction will be applied to the company if they don’t follow this regulation.
The betting firms will also be required to pay a 20 percent tax on their profits and all of their income.
Government is indeed finding ways in all sectors to abstract taxes from them. Now sports betting winners cannot make and enjoy their money in peace.
