Data from the Ghana Revenue Authority confirms the implementation of a 10% betting withholding tax by the Akufo-Addo administration, countering claims by former Finance Minister Dr. Mohammed Amin Adam. Initial revenue from the tax has been substantial, prompting calls for transparency regarding fund allocation.
Recent data from the Ghana Revenue Authority (GRA) contradicts former Finance Minister Dr. Mohammed Amin Adam’s assertion that the prior administration failed to enforce a betting tax. The Domestic Tax Revenue Division reported generating GH¢15 million from the 10% betting withholding tax within the first month of its implementation in October 2023.
In 2024, the previous administration claimed to have earned GHS1.2 billion from this betting tax. Edward Gyambra, the Commissioner of the Domestic Tax Revenue Division, indicated that initial averages for the betting gross gaming revenue (GGR) were GH¢20 million within the first month, with an expectation to increase as the betting season progresses.
The GRA outlined plans to ultimately raise GH¢400 million in government revenue through this taxation initiative. Following Dr. Cassiel Ato Forson’s presentation of the 2025 Budget Statement, sports betting patrons criticized Dr. Amin Adam for his misleading comments regarding tax implementation.
Subsequently, Ghanaians who have observed deductions from their betting winnings have expressed concerns about the allocation of these taxes. They are calling for an inquiry into how the previous administration managed the revenue from the betting tax.
The GRA data firmly establishes that the 10% betting withholding tax was implemented under the Akufo-Addo administration, countering claims by Dr. Mohammed Amin Adam. The successful revenue generation from this tax illustrates its significance in enhancing government revenue. Continued scrutiny and public demand for transparency regarding tax deductions reflect the ongoing concern surrounding government fiscal management.
Original Source: www.gbcghanaonline.com
