The Ghana Revenue Authority (GRA) has issued a reminder to the public that a 10% tax will be deducted from all gross winnings derived from lotteries, betting, gaming, and other games of chance, effective January 1st, 2024.

This taxation measure applies to both the National Lottery Authority (NLA) and private lotto operators (PLOs).

While the tax was initially introduced in August 2023, the NLA and PLOs were granted a six-month grace period for preparation.

With the expiration of this grace period as of December 28th, 2023, the tax is now fully implemented from the start of the new year.

Despite facing criticism from punters who argue that the tax diminishes their winnings, the GRA underscores the significance of this taxation for revenue generation and its contribution to national development.

The authority stresses that compliance with the new tax is obligatory, and failure to withhold and remit the tax may result in penalties under Section 78 of the Revenue Administration Act, 2016 (Act 915).