Ghana introduces new 10% tax on betting and lottery winnings

ghananewss.comApr 5, 2023 9:29 PM

Ghana has introduced a new tax on betting, games of chance, and lottery wins. The 10% tax on all winnings will apply to both domestic and overseas competitors.

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In addition, betting companies operating in the country will face a 20% tax on their revenue.

Ghanaians have had diverse reactions to the introduction of this new tax. While some have hailed the decision as a means of generating cash for the government, others have criticised it as yet additional burden on an already financially taxed population.

The betting industry in Ghana has grown significantly in recent years, with many Ghanaians turning to it to make quick money.

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🚨 Ghana 🇬🇭 has introduced a new tax for betting, games of chance and lottery. Tax will be 10% on all winnings.

Betting companies will also have a 20% tax on all revenue. pic.twitter.com/SVWQLhgh4v

— Gary Al-Smith (@garyalsmith) April 5, 2023

This has raised concerns about the industry’s potential detrimental social consequences, such as addiction and problem gambling.