Data from the GRA confirms the implementation of a 10% betting withholding tax under the Akufo-Addo administration, countering claims made by former Finance Minister Dr. Mohammed Amin Adam. The GRA reported GH¢15 million in revenue generated from this tax in its first month, with expectations for much higher earnings as the betting season progresses. Concerned citizens have called for an investigation into the management of the tax revenue.
Data from the Ghana Revenue Authority (GRA) indicates that the Akufo-Addo administration implemented a 10% betting withholding tax, directly contradicting former Finance Minister Mr. Mohammed Amin Adam’s assertion that it was not enforced. In October 2023 alone, the Domestic Tax Revenue Division of GRA reported generating GH¢15 million from the tax within its first month of implementation.
Furthermore, the previous New Patriotic Party (NPP) administration announced in 2024 that it collected GHS1.2 billion in revenue from the betting tax. Mr. Edward Gyambra, Commissioner of the Domestic Tax Revenue Division, stated, “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’s objective with the 10% withholding tax on betting was to raise about GH¢400 million to enhance government revenue. Following Dr. Cassiel Ato Forson’s presentation of the 2025 Budget Statement on March 11, 2025, patrons of sports betting criticized Mr. Amin Adam on social media for his claims regarding the tax not being implemented by the previous government.
In response to Dr. Amin Adam’s statements, some Ghanaians who noted deductions from their betting winnings have raised concerns regarding the allocation of these deducted taxes. They are advocating for a comprehensive investigation into how the previous government managed the revenue generated from the 10% betting withholding tax.
The data provided by the GRA firmly establishes that the 10% betting withholding tax was successfully implemented by the Akufo-Addo administration, contrary to assertions made by former Finance Minister Dr. Mohammed Amin Adam. This tax has exhibited significant revenue generation potential, with projections indicating that it could quadruple in the coming months. Given the public’s concerns regarding tax deductions, a thorough investigation into the management of these funds is warranted to ensure transparency and accountability.
Original Source: www.gbcghanaonline.com
