10% tax deduction on lottery wins

The Ghana Revenue Authority (GRA) will on August 15 this year start withholding 10 percent tax on the gross winnings of all betting, gaming, lotto and other games of chance across the board. This decision, the Authority says, follows passage of the Income Tax (Amendment – No 2, Act 2023 (Act 1094) which sets out to impose tax deductions on all sport betting and gaming. Making an official announcement at a media engagement in Accra, Commissioner of Domestic Tax Revenue Division (DTRD), Edward Gyambrah said the specific deduction applies to winnings operated by private lotto operators, sports betting operators, casinos, route operators,…