Audio By Carbonatix
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.
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