Josiah
The Domestic Tax Revenue Division of the Ghana Revenue Authority has reported that it successfully generated GH¢15 million within just one month from the recently introduced betting tax. The tax collector is now optimistic that this amount will increase to GH¢60 million by the end of the football season.
Edward Gyambra, the Commissioner in charge of the DTRD, expressed confidence that the Authority will exceed its revenue targets for the entire year. He stated, “During the first month of implementation, we averaged GH¢20 million for the Gross Gaming Revenue (GGR). As for the withholding tax, we’ve only just begun the betting season, but during the quieter season, we averaged GH¢15 million. We expect this to quadruple by May.”
The GRA has implemented a 10% withholding tax on betting, with the aim of raising approximately GH¢400 million to boost government revenue. Gyambra clarified, “We have two streams of taxes: the gross revenue tax and the withholding tax.”
This success in revenue generation from the betting tax is expected to contribute significantly to the government’s fiscal resources and provide additional funding for public services and development projects.
Source: Omanghana.com
