Story: Business Desk
The Domestic Tax Revenue Division of the Ghana Revenue Authority says it has generated GH¢15 million from the recently implemented bet tax within a month.
The tax collector is optimistic that this amount will reach GH¢60 million before the football season ends.
Edward Gyambra, the Commissioner in charge of DTRD, expressed confidence that the Authority will surpass its revenue targets by the end of the year.
“We have two streams of taxes: the gross revenue tax and the withholding tax,” he explained
“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.”
The GRA has introduced a 10% withholding tax on betting, with the goal of raising approximately GH¢400 million to bolster government revenue.