The Ghana Revenue Authority has confirmed the implementation of a 10% betting withholding tax under the Akufo-Addo administration, contradicting former Finance Minister Mohamed Amin Adam’s claims. The tax generated GH¢15 million in its first month and aims to raise an estimated GH¢400 million to bolster government revenue. Public concerns have arisen regarding the handling of the tax revenue, calling for an investigation.
Recent data from the Ghana Revenue Authority (GRA) has contradicted the assertion made by former Finance Minister, Mr. Mohammed Amin Adam, regarding the non-implementation of a betting tax. According to the GRA, under the Akufo-Addo administration, a 10% withholding tax on betting was indeed instituted, generating GH¢15 million in its first month alone, as reported in October 2023.
The GRA’s Domestic Tax Revenue Division further indicated that the previous New Patriotic Party (NPP) government generated approximately GHS1.2 billion in total revenue from the betting tax in 2024. Mr. Edward Gyambra, the Commissioner responsible for DTRD, noted that the average revenue from the Gaming Gross Revenue (GGR) was GH¢20 million in the initial month, with expectations to increase significantly as the season progresses.
The imposition of this betting tax aims to provide a substantial boost to government finances, with projections indicating a target of around GH¢400 million. Following comments from Dr. Cassiel Ato Forson, the current Finance Minister, during the budget presentation on March 11, 2025, patrons of sports betting took to social media to express their dissatisfaction with Mr. Amin Adam’s claims, highlighting personal experiences with deductions from betting winnings.
Concerns have emerged regarding the management of the deducted taxes, prompting calls for a comprehensive investigation to clear up any misunderstandings related to the revenue generated from the implemented 10% betting withholding tax.
In summary, GRA data confirms the implementation of a 10% betting tax by the Akufo-Addo administration, generating significant revenue contrary to former Minister Amin Adam’s claims. The GRA’s intent behind this tax is to enhance government revenue, with further scrutiny requested by citizens regarding the distribution and use of collected taxes. The public’s demand for accountability underscores the importance of transparency in financial governance.
Original Source: www.gbcghanaonline.com
