Ghana Implements 10% Withholding Tax on Betting and Lottery Wins, Sparking Debates and Compliance Concerns

The Ghana Revenue Authority (GRA) headquarters in Accra, Ghana, on Tuesday, Feb. 28, 2023. Ghanas cedi, the worlds second-worst performing currency this year, is heading for more pain after the West African nation missed a self-imposed deadline to restructure its bilateral debt and move closer to tapping foreign aid. Photographer: Ernest Ankomah/Bloomberg via Getty Images

The Ghana Revenue Authority (GRA) has issued a significant announcement that is poised to impact the country’s burgeoning betting and lottery industry. Starting from August 15, 2023, a new 10% withholding tax on all betting, games, and lottery wins will come into effect. This development follows a recent amendment to the Tax Act by the … Read more