There have been various calls to the Ghana government to reconsider or review what has been described as Tormenting Taxes, especially in the lottery and Sports Betting Sector. Ghana Betting Tax
The Ghanaian Parliament enacted the Income Tax (Amendment) Bill on March 31, 2023, and President Akufo-Addo signed it into law. The new income tax law, among other things, reinstated a 10% tax on lottery wins after it had been successfully eliminated in 2017, as well as a new, unacceptable 20% tax on Lottery/Sports Betting Companies’ earnings.
Mr Justice Ayeh Donkor, Coalition of Small Business Owners, sees the existing tax policies and tax structure undermines the growth, performance, and revenues of Private Sector led businesses.
Read More: 30% Revenue Growth in Betting Sector Year 2022/23 KRA
In support, Ghana National Chamber of Commerce and Industry (GNCCI) fathoms the idea of Government tax reliefs in the upcoming 2023 Mid-Year Budget to cushion the suffering and struggling business in the country.
The Ministry of Finance should also get rid of the pointless 20% and 10% taxes that are levied on the revenue of lottery marketing and sports betting companies’ winnings, respectively.
They have been threats by Ghana Revenue Authority (GRA) to close down all lottery and sport betting companies that fail to pay the 20% and 10% taxes on lottery and sports betting and many believe will be confronted by resistance and demonstrations.
In regard to the unemployment rate in the country, the government should not kill these private businesses under the pretext of taxes. Rather impose favorable policies and taxes to support the businesses in these crucial moments.
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