The Ghana Revenue Authority recently announced that it will begin implementing new taxes on e-commerce and iGaming. This comes in relation to the growing number of sports betting and casinos in Ghana. The GRA’s plan is to start with the new set of taxes before the end of April 2022.
Ghana is currently host to 33 sports betting companies, and 8 casinos registered with the Gaming Commission. According to the Assistant Commissioner of GRA, Dr. Martin Yamborigya, these operators are expected to boost the government’s future revenue.
Betting on the Rise
Sports betting has been growing in Ghana, and across the continent, at a rapid rate. The Assistant Commissioner, therefore, sees an obvious need for tax and regulation. Though seeing the gradual move away from brick-and-mortar business, Yamborigya also strongly believes in the growth potential of online commerce.
He has announced that the GRA is currently meeting with the Gaming Commission and key operators in the country’s betting industry. He believes this will help to ensure an all-around agreement and a smooth operation.
Benefitting the Country
Rev. Dr. Ammishaddai Owusu-Amoah, the GRA Commissioner-General, has also made assurances. He believes that the new taxes are in the best interest of the country. Together with a newly implemented digital system in the form of an electronic transaction levy, the taxes are expected to greatly boost the GRA’s revenue target for 2022. The GRA has set this at ¢80.3 billion, around $10.7 billion.
Owusu-Amoah says that going forward, there will need to be a shared effort to implement the taxes, from all parties. Though there will likely be challenges, he is confident that great progress will be made in the betting sector over the coming year.