Data from the Ghana Revenue Authority reveals that the Akufo-Addo administration implemented a 10% betting withholding tax, generating GH¢15 million within its first month. This counters claims made by former Finance Minister Mohammed Amin Adam. Total revenues reached GH¢1.2 billion in 2024. Concerns have arisen among citizens regarding the management of deducted tax revenues, prompting calls for investigation.
Recent data from the Ghana Revenue Authority (GRA) directly contradicts former Finance Minister, Mr. Mohammed Amin Adam’s assertion that the previous administration did not enforce the 10% betting withholding tax. The GRA’s Domestic Tax Revenue Division reported that GH¢15 million was generated from this tax in its first month of implementation as of October 2023. Moreover, revenue from the betting tax totaled GHS1.2 billion in 2024 under the previous administration.
According to Mr. Edward Gyambra, Commissioner of the Domestic Tax Revenue Division, “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 aims to collect approximately GH¢400 million from this measure to enhance governmental revenue.
Following remarks made by Dr. Ato Forson, the current Finance Minister, during the presentation of the 2025 Budget Statement in Parliament, sports betting stakeholders expressed frustration towards Mr. Amin Adam’s comments concerning the Betting tax’s lack of implementation. This backlash was evident on social media, emphasizing public discontent with the former minister’s statements.
Furthermore, many Ghanaians, who have reportedly had deductions from their betting earnings, have raised inquiries regarding the allocation of these deducted taxes. They are calling for an in-depth investigation into how the former administration managed the funds obtained from the 10% betting withholding tax.
The data from the GRA compellingly refutes the claim made by former Finance Minister Dr. Mohammed Amin Adam that the 10% betting withholding tax was not implemented. With substantial revenues reported shortly after its introduction, the GRA’s efforts demonstrate a commitment to increasing government revenue through this tax. Furthermore, public concerns regarding the management of these funds warrant further scrutiny, highlighting the significance of transparency in tax handling.
Original Source: www.gbcghanaonline.com
