Ghana: GRA Generates GH¢15m From Betting Tax In One Month, Targets GH¢60m By End Of Football Season

The Ghana Revenue Authority (GRA) says it has generated GH¢15 million from the recently implemented bet tax within a month.

The GRA which collect tax on behalf of the government is optimistic that this amount will reach GH¢60 million before the football season ends.

According to Accra-based Citi FM, Edward Gyambra, the Commissioner in charge of Domestic Tax Revenue Division of GRA is confident that the Authority will surpass its revenue targets by the end of the year.

He explained that ‘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’.

Government has introduced the controversial 10% withholding tax on betting to raisie approximately GH¢400 million to support its revenue.

SOURCE: Kasatintin.com