ASEM! Betting and lottery winnings to be hit by 10% tax

The Ghanaian government has announced that it is proposing a 10 per cent tax on all winnings from sports betting, lottery, and games of chance.

This move comes as part of the government’s effort to generate more revenue for the country and curb the negative effects of gambling.

According to the announcement made by the Ghana Revenue Authority, punters who win bets will be obligated to pay 10 percent of their winnings to the government, with the remaining 90 percent being theirs to keep.

The betting companies will also be taxed on all their revenues and will be required to pay a 20 percent levy on their proceeds.

This decision has generated mixed reactions among the public, with some expressing their support for the move as a way to generate more revenue for the country. Others, however, have criticized the proposal, arguing that it could discourage people from participating in betting and lottery games.

A representative from one of the betting companies operating in Ghana, who spoke on the condition of anonymity, expressed concern about the impact of the proposed tax on their business. “This new tax proposal will definitely affect our revenues and profits,” he said. “We will have to find ways to mitigate its impact on our business operations.”

The government of Ghana has been exploring various ways to boost its revenue sources in recent years, as it seeks to reduce its dependence on foreign aid and loans.

The introduction of this tax on betting and lottery winnings is one of several measures that have been proposed by the government in this regard.

The government’s move to impose a tax on betting and lottery winnings has sparked a debate on the wider issue of gambling in the country.

Some are calling for tighter regulations to be put in place to protect vulnerable individuals from the negative effects of gambling, while others argue that gambling should be seen as a personal choice and that the government should not intervene.