{"id":90439,"date":"2023-08-09T22:39:04","date_gmt":"2023-08-09T22:39:04","guid":{"rendered":"https:\/\/www.ghanamma.com\/2023\/08\/09\/10-withholding-tax-on-betting-lottery-winnings-to-start-on-august\/"},"modified":"2023-08-09T22:39:04","modified_gmt":"2023-08-09T22:39:04","slug":"10-withholding-tax-on-betting-lottery-winnings-to-start-on-august","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2023\/08\/09\/10-withholding-tax-on-betting-lottery-winnings-to-start-on-august\/","title":{"rendered":"10% withholding tax on betting, lottery winnings to start on August"},"content":{"rendered":"

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The Ghana Revenue Authority (GRA) has served notice that the new 10% withholding tax on all betting, games and lottery wins will take effect from next week, August 15, 2023.<\/p>\n

This comes after the government amended the Tax Act, therefore, introducing withholding tax on winnings from sports betting<\/strong> and lottery.<\/p>\n

And according to a report by UTV Ghana, the GRA said they aim to ensure full compliance with the newly amended Tax Act and to generate about GHC 1.2 million from lottery activities.<\/p>\n

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It will be recalled that earlier this year, the government of Ghana announced plans to introduce taxes on all betting, games and lottery wins.<\/p>\n

The new tax was widely criticised by young Ghanaians on social media, many of whom were involved in sports betting.<\/p>\n

The betting industry in Ghana has seen tremendous growth in the last decade, leading to many betting companies setting up shop in the country.<\/p>\n

In recent years, sports betting has often divided opinion among Ghanaians, with some quarters highlighting its effects on the youth.<\/p>\n

Others also believe betting is legal and therefore cannot be described as a bad practice when no laws are broken.<\/p>\n

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