The Domestic Tax Revenue Division (DTRD) of the Ghana Revenue Authority (GRA) has reported that it successfully generated GH¢15 million in revenue within just one month since the implementation of the 10% betting tax.
This new betting tax initiative has shown promising early results, with the tax collector expressing optimism that the revenue collection will soar to GH¢60 million by the conclusion of the football season.
Edward Gyambra, the Commissioner in charge of DTRD, conveyed his confidence that the GRA would surpass its revenue targets for the year. He explained the structure of the taxation, stating, “We have two streams of taxes: the gross revenue tax and the withholding tax.”
“During the first month of implementation, we averaged GH¢20 million for the GGR. As for the withholding tax, we’ve just started the betting season, but during the lean season, we averaged GH¢15 million. We anticipate this to quadruple by May,” Gyambra added.
The GRA introduced a 10% withholding tax on betting with the aim of bolstering government revenue by raising approximately GH¢400 million.
This initiative aligns with the government’s broader efforts to enhance domestic tax revenue and ensure fiscal sustainability.
