Tax on Profits from Betting and Lotteries: Some Ghanaian sports enthusiasts are reacting negatively to the government’s intention to levy taxes on lotteries and sports betting.
On March 31, Parliament adopted three tax legislation — the Income Tax Amendment Bill, the Excise Duty Amendment Bill, and the Growth and Sustainability Amendment Bill — that had been placed before it as part of the government’s efforts to produce additional income.
The government anticipates that enacting these legislation would help it generate the cash needed to achieve the IMF accord while also improving the country’s revenue status.
A 10% withholding tax is deducted from wins from lotteries, sports betting, and games of chance at the moment of distribution.
Prior to the Presidential assent, concerned punters have resorted to social media to express their concerns about the potential impact on their earnings.
10% Tax on Profits from Betting and Lotteries: John Dumelo reacts
Ghanaian politician and movie actor, John Dumelo, has expressed his anger over the introduction of a 10% tax on betting winnings in the country.
Taking to Twitter, Dumelo criticized the government for not doing enough to create jobs for the youth, and for imposing additional financial burdens on them.
In his tweet, Dumelo said, “Create jobs, you won’t create. The youth have created their own jobs too ahhh, you want to tax their winnings…..continue. That day will come when the youth will rise against you. It will be too late.”
Additionally, according to 3news, betting companies operating in the country will be subject to a 20% tax on their revenue.
Ghanaians have had a variety of reactions to the implementation of this new tax. While some have praised the decision as a method of raising funds for the government, others have criticized it as yet another financial load on an already overburdened people.
In recent years, the betting business in Ghana has developed substantially, with many Ghanaians turning to it to make quick money.
This has raised concerns about the industry’s potential detrimental social consequences, such as addiction and problem gambling.
Lists of some Foreign Betting Sites
Even though most of them require a VPN to access, just because a betting site is international doesn’t automatically make it a good one. In fact, some foreign sites aren’t even as excellent as some of our domestic ones.
Searching for the major global betting sites in Ghana doesn’t have to be stressful. All the hard work has been done for you by us! Here is the list of some foreign betting site.
- Paddy Power (VPN)
- William hill
- Paris match
- Betfair (VPN)
- Betfred (VPN)
- Sports Coral
- Sporting Bet
- Marathon bet.
Remember, most of these betting sites require VPN to access their portal
What if the foreign betting site is not licensed by the Gaming Commission of Ghana?
According to Ghanaian betting laws, any betting site without a Ghanaian license should not operate in Ghana. Such sites are not permitted to have physical shops and offices in Ghana.
However, due to the loosely regulated online space, foreign betting sites without a Ghanaian license are still accessible to players online.
Here is our advice to you: If you are to bet on a foreign betting site that does not have a Ghanaian license, be sure that the site is licensed by a reputable international body like the Malta Gaming Authority and UK Gambling Commission.
If the site does not have any recognizable licensing information, please stay away from the site. It may not be safe to bet on.