GRA generates GH¢15m from betting tax, targets GH¢60m by end of football season
“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.”
The Domestic Tax Revenue Division of the Ghana Revenue Authority says it has generated GH¢15 million from the recently implemented bet tax within a month.
The tax collector is optimistic that this amount will reach GH¢60 million before the football season ends.
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Edward Gyambra, the Commissioner in charge of DTRD, expressed confidence that the Authority will surpass its revenue targets by the end of the year.
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“We have two streams of taxes: the gross revenue tax and the withholding tax,” he explained.
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“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.”
The GRA has introduced a 10% withholding tax on betting, with the goal of raising approximately GH¢400 million to bolster government revenue.
Source: Citinewsroom
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