{"id":7765,"date":"2023-08-14T09:47:32","date_gmt":"2023-08-14T06:47:32","guid":{"rendered":"https:\/\/igamingafrika.com\/?p=7765"},"modified":"2023-08-14T09:47:32","modified_gmt":"2023-08-14T06:47:32","slug":"gra-to-implement-10-withholding-tax-on-gaming-wins-this-month","status":"publish","type":"post","link":"https:\/\/igamingeuropa.com\/index.php\/2023\/08\/14\/gra-to-implement-10-withholding-tax-on-gaming-wins-this-month\/","title":{"rendered":"GRA to Implement 10% Withholding Tax on Gaming Wins This Month"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong><em>On August 15 of this year, the <a href=\"https:\/\/gra.gov.gh\/\" target=\"_blank\" rel=\"noreferrer noopener\">Ghana Revenue Authority (GRA) <\/a>will begin deducting 10% of all gross gains from all betting, gaming, lottery, and other games of chance.<\/em><\/strong> <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\">GRA 10% Gaming Tax<\/mark><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the<a href=\"https:\/\/igamingafrika.com\/ghana-gambling-news\/the-ghanaian-government-approves-a-new-10-tax-on-winnings-from-sports-betting-and-lotteries\/\" target=\"_blank\" rel=\"noreferrer noopener\"> Authority, this decision was made in response to the enactment of the Income Tax (Amendment &#8211; No 2, Act 2023 (Act 1094) that aims to impose tax deductions on all sports betting and gambling.<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Edward Gyambrah, Commissioner of Domestic Tax Revenue Division (DTRD), announced the specific deduction at a media event in Accra. He said it applies to winnings generated by privately run lotteries, sportsbooks, casinos, betting routes, remote interactive game operators, marketing promotions, and other games of chance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">By the end of the year, the Authority hoped to generate roughly GH1.2 billion in income from lottery operations, according to the GRA&#8217;s Commissioner of Domestic Tax income Division.<\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\">Come August 15, we expect that when you are making the payments, you will withhold 10 percent to the Ghana Revenue Authority (GRA). As you have been appointed as withholding agents, the obligation is on you to withhold. If you fail to do that, with the interactions we had with you and with the support of the gaming commission, you can be assured that your licenses will be withdrawn.<\/p>\n<cite>stated the commissioner.<\/cite><\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, each month when submitting reports, all lottery operators are required to pay a 20% tax on gross gaming revenue (GGR).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Read Also: <a href=\"https:\/\/igamingafrika.com\/articles-igaming-africa\/big-bass-crash-to-solve-the-untapped-potential-of-crash-games\/\" target=\"_blank\" rel=\"noreferrer noopener\">The untapped potential of Crash Games<\/a><\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">In fact, the policy has actually been in effect since June 1, 2023, with casinos, route operators, and marketing promotion firms all following it. On August 15, 2023, it is anticipated that private lottery activities and sports betting would start.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to Thomas T.K. Agorsor, chair of the GRA Gaming Revenue Committee, the Authority has set up a Revenue Monitoring System (RMS) to confirm the actual revenue that accrues to lottery operators. This would allow the GRA to assess the proper tax from lottery operations.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Additionally, he stated that the GRA will gain physical access to the lottery operator&#8217;s physical infrastructure or system at a comparable point in the infrastructure or system to perform checks as needed.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">He recalled the need for lottery operators to update their software so that the bet slip would show the stake amount, potential winnings before tax, tax rate, tax withheld, and potential winnings after tax, and that the values would be stored for reporting.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<p class=\"wp-block-paragraph\"><em>Check out the latest news\u00a0<a href=\"http:\/\/igamingafrika.com\" target=\"_blank\" rel=\"noreferrer noopener\">here<\/a>\u00a0and you are welcome to join our super exclusive\u00a0<a href=\"http:\/\/t.me\/igaminginafrica\" target=\"_blank\" rel=\"noreferrer noopener\">iGaming Afrika Telegram Forum<\/a>\u00a0for all the latest and breaking news in the African Gambling industry. We would also like to hear from you, write to <mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-vivid-cyan-blue-color\">editor@igamingafrika.com<\/mark><\/em><mark style=\"background-color:rgba(0, 0, 0, 0)\" class=\"has-inline-color has-white-color\"> <kbd>GRA 10% Gaming Tax<\/kbd><\/mark><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On August 15 of this year, the Ghana Revenue Authority (GRA) will begin deducting 10% of all gross gains from all betting, gaming, lottery, and other games of chance. GRA 10% Gaming Tax According to the Authority, this decision was made in response to the enactment of the Income Tax (Amendment &#8211; No 2, Act &hellip;<\/p>\n","protected":false},"author":3,"featured_media":7768,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25,103,198],"tags":[197],"class_list":["post-7765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-united-kingdom-gambling-news","category-west-africa-gambling","tag-ghana-revenue-authority"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GRA to Implement 10% Withholding Tax on Gaming Wins<\/title>\n<meta name=\"description\" content=\"Ghana Revenue Authority (GRA) will begin deducting 10% of all gross gains from all betting, gaming, lottery, and other games of chance.\" \/>\n<meta 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