Ghana Revenue Authority says it has generated GH¢15 Million from the recent tax on sports betting winnings. GRA Tax Betting GH 15 Million
The authority is anticipating raising GH¢60 million by the end of the current football season.
Edward Gyambra, the Commissioner in Charge of the Domestic Tax Revenue Division, expressed assurance that the Authority will meet its revenue targets by the end of the year.
The betting would have a stream of taxes, we have Gross Gaming Revenue tax and Withholding tax. For the first month that we implemented, we got an average for the GGR about GH¢ 20 million a month.
Then for the withholding, we just started the season on betting. In the lean season we are doing GH¢ 15million a month, we are hoping this will quadruple in the major season of betting which is from this month to May.
When we get to December we will be able to project the expected revenue.Edward Gyambra, Commissioner in charge of the Domestic Tax Revenue Division
On August 15, 2023, the GRA implemented a 10% withholding tax on gambling with anticipation that the earnings for the year would be roughly GH400 million. GRA Tax Betting GH 15 Million