The Ghana Revenue Authority (GRA) has declared its plans to place taxes on the growing sports betting and casino industry in the country. This will begin in April and will include a new electronic levy system to aid in the streamlining of the process.
With a worldwide boom in e-commerce and online betting in recent years, Africa is gaining rapid ground. Soon, it may even become a global leader in the gambling industry. Many African countries, including Ghana, have seen massive growth in e-commerce and online betting. Governments are also beginning to see the benefits and the necessity of proper regulation.
Targeting Illegal Operations
At present, there are 33 sports betting operators and 8 casinos registered in Ghana. Many others operate illegally. This is something that the government and GRA aim to rectify through proper licensing and regulation.
Huge amounts of revenue are generated by the online betting industry. And with many operators belonging to foreign companies, much of it inevitably leaves the country. Regulation through licensing and taxes can help to bring that revenue back into the country’s economy.
Dr. Martin Yamborigya, the Assistant Commissioner of GRA, feels that this has been long overdue. He believes the online betting industry will be of great benefit to Ghana’s economy once it is regulated. Yamborigya has been meeting with all the major players in Ghana’s betting industry to guarantee that everyone is on board with the new taxes.
His aspirations and beliefs are shared by the GRA Commissioner-General, Rev. Dr. Ammishaddai Owusu-Amoah. Owusu-Amoah announced the implementation of a new electronic levy system, or e-levy, to help the GRA collect taxes. The taxes will go towards the ¢80.3 billion ($10.7 billion) revenue target that the GRA has set for 2022.