Tax

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

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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