In a recent announcement, BET365, a prominent name in the realm of online betting, expresses deep regret over the necessity to suspend its betting services for residents of Ghana, effective from August 14, 2023.
This decision has been prompted by recent developments initiated by the Ghana Revenue Authority (GRA) in alignment with the newly amended Tax Act. As part of its efforts to ensure robust compliance with the updated tax regulations, the government of Ghana has introduced a significant change that affects the betting and lottery industry.
Specifically, a 10% withholding tax is set to be imposed on sports betting and lotteries, commencing from August 15, 2023. The introduction of this withholding tax forms part of the government’s broader strategy to optimize revenue generation and create a more transparent financial landscape within the realm of sports betting and lotteries.
BET365 acknowledges the GRA’s commitment to implementing these measures and ensuring that the tax framework is consistently upheld. While the company deeply values its engagement with the Ghanaian market, this unavoidable suspension of services has been initiated to accommodate the transition to the new tax regime.
