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