Government’s 10% tax on sports betting winnings starts today

Punters and gamblers will from today, August 15, 2023, pay a 10% withholding tax on all betting, games and lottery wins. This follows the government’s decision to amend the Tax Act, therefore, introducing withholding tax on winnings from sports betting and lottery.

The betting industry in Ghana has seen tremendous growth in the last decade, leading to many betting companies setting up shop in the country.

In recent years, sports betting has often divided opinion among Ghanaians, with some quarters highlighting its effects on the youth.

Others also believe betting is legal and therefore cannot be described as a bad practice when no laws are broken.

The decision to introduce a 10% withholding tax has, however, been criticised by Ghanaians, some of who took to social media to bash the government.

“You go buy data you go pay tax, you import car you pay tax, you buy something online you pay tax, you win bet you pay tax but we no dey see where the money dey pass. Oman fu sei,” – influencer KalyJay tweeted.

Another Twitter account with the name LilMoGh said:

“Did whoever impose the 10% tax on bet, even had a second thought about it.. or they think you win every game you stake.. eiiiii Bibiniiii nso y3 nnipa ooo. You stake 10k and lose, you stake 5k and win let’s say 10k you want to withdraw, aban se mede3 1k.. Awurade Nyame.”

The new betting tax means punters will have to cede 10% of any amount they win to the government in the form of tax.

Source: pulse.com.gh

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Szarlot

I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry.

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Szarlot

I am a fan of casino games especially roulette and blackjack. After that I analyze current events in the gambling industry.