Lottery marketing and gambling companies scream at high taxes

Lottery and gambling players are reluctant to introduce 20% and 10% taxes on their businesses based on ‘gross gambling earnings’.

They said a tax on the gross income of lottery companies and the staking public would undermine the sales, revenues, profits and growth of the lottery industry.

“The 10 percent withholding tax on winnings will prevent thousands of players from betting on lottery products both at kiosks and online,” the statement, copied to the Ghana News Agency in Accra, said.

“Already, many lottery marketing companies are going bankrupt due to huge debts as a result of high winnings by the general public who wager and huge amounts of money paid to the National Lottery Authority in licensing fees.

“National lottery authorities have also already taken a toll on lottery business due to the inability to promptly pay winning tickets to the general public placing bets, as well as a 20 percent commission to lottery distributors, resulting in increased sales. and reduced income.

They called on the Treasury Department to reconsider the 20% and 10% taxes on total turnover and winnings of lottery marketing and gambling companies, respectively.

They will also suspend tax enforcement on lottery companies and ordinary participants and expand consultations with national lottery authorities, private lottery operators, lottery distributors, sports betting companies and all other relevant stakeholders. I appealed. Consensus on how best to address concerns in the lottery industry.

Source: GNA

Leave a Reply

Your email address will not be published. Required fields are marked *

Skip to content