“The Income Tax (Amendment) Act, 2023 (Act 1094) introduced a 10% Withholding Tax on the Gross Winnings from all Lottery i.e. Lotto, Betting, Gaming and Other Games of Chance,” the Ghana Revenue Authority (GRA) said in a statement to the general public, especially Lotto customers.
The National Lottery Authority (NLA) and Private Lotto Operators (PLOs) were given a six-month extension, despite the fact that the implementation has already started, so that they could plan and carry out the 10% Withholding Tax on Lotto Gross Winnings.
The Revenue Authority went on, saying, “The NLA and PLOs must start implementing the Withholding Tax on Lotto Gross Winnings starting January 2024 as this extension expires in December 2023.
This instruction must be heeded by the general public, in particular by patrons, players, wagerers, operators, and tax consultants. Additionally, operators are reminded that breaking the tax legislation is illegal and subject to penalties outlined in Section 78 of the Revenue Administration Act, 2016 (Act 915).”