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GRA impose a 10% tax on lotto winning

The Ghana Revenue Authority (GRA) has reminded the public that a 10% tax will be withheld from all gross winnings from lotteries, betting, gaming, and other games of chance starting January 1st, 2024.

This applies to both the National Lottery Authority (NLA) and private lotto operators (PLOs).

While the tax was originally implemented in August 2023, the NLA and PLOs were given a six-month grace period to prepare.

As of December 28th, 2023, the grace period has ended, leading to the full implementation of the tax from January 1st onwards.

This decision has faced criticism from punters, who argue that it reduces their winnings. However, the GRA emphasises the importance of this tax for generating revenue and contributing to national development.

They further highlight that compliance with the new tax is mandatory. Failure to withhold and remit the tax may result in penalties under Section 78 of the Revenue Administration Act, 2016 (Act 915).

CNR

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