2021 budget: Government to tax all online betting activity

2021 budget: Government to tax all online betting activity

- All gaming activities in Ghana will be taxed

- Government says it loses 300 million cedis to unregulated gaming activities annually

- The gaming tax remains one of the ways government wants to rake in revenue

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Government will now be imposing taxes on online betting and other gaming activities across the country.

The Caretaker Minister, Osei Kyei-Mensah-Bonsu in presenting the 2021 budget revealed that the government lost close to 300 million cedis annually to gaming activities that are not regulated.

Presenting the 2021 budget, Osei Kyei-Mensah-Bonsu explained that this tax follows other “innovative” ways the government hopes to generate income amid the economic impact of the Coronavirus.

2021 budget: Government to tax all online betting activity
2021 budget: Government to tax all online betting activity (Stock Photo)
Source: Getty Images

Gaming has become a major income earner all across the globe and a significant source of Government revenue. The influx of online betting and automation of the once totally manual process has changed the character of revenue sources from that industry.

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“It is estimated that Ghana loses over GHs 300 million annually in revenue due to leakages in the sector. The Ministry of Finance and the Ministry for the Interior will co-supervise the gaming industry and will soon consult with stakeholders to formulate a comprehensive policy to improve revenue mobilization from this source,” he disclosed.

What this means is that all the value chai of gaming, from buying tickets to winning and withdrawing your returns will be taxed one way or the other by the government.

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Source: Yen

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