The Ghana Revenue Authority (GRA) has stated that lottery winnings are also subject to the 10% withholding tax applied to gaming winnings, which is set to be implemented in the coming weeks.
The government aims to generate around GH¢400 million through this new revenue initiative, a move that has sparked opposition from a segment of the youth.
Furthermore, there were reports suggesting that games operated by the National Lottery Authority (NLA) were excluded from this taxation scheme.
However, the Project Manager of the Gaming Tax Committee at the authority, Thomas Agosor, has clarified that the new tax regulations encompass the NLA as well.
"We have a history with NLA. They were the reason the law was amended in 2017 to exclude winnings from NLA from the lottery. The same conversation is being held. Unfortunately, the way the law was carved, they were all included.
Speaking on Joy FM, Mr Agosor explained that there are, nonetheless, consultations with the NLA to determine the way forward.
"There is an ongoing conversation on what to do with the NLA because there had been a policy decision taken in the past to exclude them," he said on Thursday, August 17, 2023.
He added that the withholding tax will be charged on profits earned after every win and that the existing 15% Value Added Tax (VAT) rate on each stake will no longer be charged.
Latest Stories
-
Queenmother calls on President-elect Mahama to appoint more women in his government
5 minutes -
Atletico Madrid beat Barcelona to go top of La Liga
23 minutes -
Usyk breaks Fury’s heart with points win in rematch
25 minutes -
Ghana-Russia Centre to run Russian language courses in Ghana
6 hours -
The Hidden Costs of Hunger: How food insecurity undermines mental and physical health in the U.S.
6 hours -
18plus4NDC marks 3rd anniversary with victory celebration in Accra
9 hours -
CREMA workshop highlights collaborative efforts to sustain Akata Lagoon
9 hours -
2024/25 Ghana League: Heart of Lions remain top with win over Basake Holy Stars
10 hours -
Black Queens: Nora Hauptle shares cryptic WAFCON preparation message amid future uncertainty
11 hours -
Re-declaration of parliamentary results affront to our democracy – Joyce Bawah
11 hours -
GPL 2024/25: Vision FC score late to deny Young Apostles third home win
11 hours -
Enhancing community initiatives for coastal resilience: Insights from Keta Lagoon Complex Ramsar Site Workshop
11 hours -
Family Health University College earns a Presidential Charter
11 hours -
GPL 2024/25: Bibiani GoldStars beat Nsoatreman to keep title race alive
11 hours -
GPL 2024/25 Bechem United keep title hopes alive with narrow win over FC Samartex
12 hours