Lottery and betting participants are dissatisfied with the implementation of 20 and 10 percent levies on their businesses as part of the “Gross Gaming Revenue”
They asserted that taxes on the aggregate revenue of lottery companies and the betting public would hinder the industry’s sales, revenue, profits, and growth.
A statement transmitted to the Ghana News Agency in Accra stated, “The 10% Withholding Tax on Winnings will discourage thousands of participants from wagering on lottery products at kiosks and online.
Already, a large number of Lotto Marketing Companies are going out of business due to enormous debts incurred as a result of increased winnings by the betting public and huge license fees paid to the National Lottery Authority.
Lottery operators and bookmakers complain about having to pay too much in taxes.
“The inability of the National Lottery Authority to promptly pay winning tickets to the betting public, as well as the 20% commissions paid to the Lotto Marketing Companies, have already had a negative impact on the lottery business, resulting in a decline in sales and revenues.
They urged the Ministry of Finance to reconsider the 20 percent and 10 percent duties on Lotto Marketing and Betting Companies’ aggregate sales and winnings, respectively.
In addition, they requested the suspension of the implementation of the Taxes on the lottery companies and players of the staking public, as well as a broadening of consultations with the National Lottery Authority, Private Sector Lotto Operators, Lotto Marketing Companies, and all other relevant stakeholders in order to reach a consensus on the best way forward to address the concerns of the lottery industry.