According to the Ghana Revenue Authority (GRA), the 10% withholding tax on gross lottery and betting wins would be imposed today, Monday, January 1, 2024.
The authority earlier this year granted the National Lottery Authority (NLA), and Private Lotto Operators (PLOs) a six-month extension period to prepare for the implementation.
“The extension expires in December 2023 and therefore the NLA and the PLOs are required to commence the implementation of the withholding tax on Lotto Gross winnings effective January 2024” , the General Accounting Office (GAO) stated in a statement.
According to the GRA, lotto patrons and operators are required by law to keep 10% of gross wins from all lotteries, including lotto, betting, gaming, and other games of chance.
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It emphasized that tax law compliance is obligatory, and refusal to do so will be treated as an offense under Section 78 of the Revenue Administration Act, 2016 (Act 915).
The GRA has warned that businesses that fail to follow the tax requirements would face punishment.
The statement ended, “Patrons, players, punters, operators, and tax consultants are urged to take note of this directive.”
