The caretaker Finance Minister, Osei Kyei-Mensah-Bonsu has revealed that Ghana loses over GH¢300 million annually due to leakages in online betting.
According to him, gaming has become a major income earner all across the globe and a significant source of government revenue.
Presenting the 2021 budget statement and economic policy on Friday, March 12, he said the government aims to formulate a new policy to improve revenue mobilization from online gaming in 2021.
“Gaming has become a major income earner all across the globe and a significant source of government revenue,”
The influx of online betting and automation of the once-totally-manual process, has changed the character of revenue sources from that industry.
It is estimated that Ghana loses over GH¢300 million annually in revenue due to leakages in the sector.” he said.
He assured Ghanaians that the Ministry of Finance and the Ministry for the Interior “will co-supervise the gaming industry and will soon consult with stakeholders to formulate a comprehensive policy to improve revenue mobilization from this source.”
According to the National Lottery Authority (NLA), a lot of foreign companies operating sports betting without payment of taxes to the State as required by law.
In January, General Secretary of the Ghana Football Association [GFA], Prosper Harrison Addo has revealed that his outfit will be taking on betting companies for stealing products of the Association.
According to him, the GFA had a meeting with some betting companies but was later told that the products of the association were not worth it.
He said despite the companies refusing to partner with the GFA, they have been stealing from the association without its concern.
Story by: Princeton Kwabena Wiredu | universnewsroom.com