Betting tax: GRA makes GHS15m in one month, targets more

The Ghana Revenue Authority has said it made at least GHS15 million from the betting tax that was implemented last month. GRA’s Domestic Tax Revenue Division, DTRD, Commissioner made the revelation.

He explained that the two streams of revenue from the taxes have performed well in just one month of implementation. According to him, the authority expects more revenue as the season wears on with most major leagues still just weeks into their respective competitions.

“We have two streams of taxes: the gross revenue tax and the withholding tax,” adding, “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,” he stated.

Ghana’s revenue mobilization authority incurred the wrath of the Ghanaian public especially young people when it introduced the tax on sports betting. While some people supported the move, arguing that betting was a virus infecting society and thus needed measures to deter people from venturing into it, others argued that the youth are using it as a last resort due to the limited opportunities available to them.

Despite the noise and scorn that accompanied the betting tax implementation, the government has not relented and is raking in the benefits from it already as it expects more cash from the tax in the coming months.