Lotto Marketers have kicked against the decision by government to introduce a 10% tax on lotto winnings.
The group is asking the government to suspend it’s activities indicating that, it’s imposition will undermine sales, revenues, profits and growth in the industry.
One of the marketers indicated, “I see that one as crazy, very very crazy because, how can they tax banker to banker? How can they tax those operating online? How about the Alpha lotto and the rest? it’s not possible but you see it looks as if they’ve targeted the lotto marketing companies and they want to do away with us”
The 10% tax on gross winnings of game of chance including sports betting has kicked in starting Monday, January 1, 2024.
The Government, through the Finance Minister Ken Ofori-Atta, announced the implementation of a 10% withholding tax on betting and other game of chance to shore up revenue generation while expanding the tax bracket, during the presentation of the 2024 budget statement to parliament.
A move the Minister described as “burden sharing”, as the government continues to work to bring the ailing economy back to its glory.
The country’s sole revenue mobilisation body, Ghana Revenue Authority (GRA), subsequently directed the National Lottery Authority (NLA), and Private Lotto Operators (PLOs) to prepare for the implementation effective August 15, 2023, which was later extended to the end of December 2023.
