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Gov't introduces bill to remove tax on lotto winnings
The National Lottery Authority (NLA) has sent proposals to the Ministry of Finance for the taxes paid by lotto agents to be scrapped.
The National Lottery Authority (NLA) has sent proposals to the Ministry of Finance for the taxes paid by lotto agents to be scrapped.
They argue that the move will attract more people to the sector.
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The previous Mahama-led government imposed a five per cent tax on all lotto winnings exceeding GHS2,592, following a re-classification of lotto as an investment activity.
But on Wednesday, November 29, the Deputy Minister of Finance, Kwaku Kwarteng laid the Value Added Tax (Amendment) (N0.2) Bill, 2017 on the floor of Parliament to remove the tax.
Other bills which were laid include the National Fiscal Stabilisation (Amendment) Bill, 2017, Special Import Levy (Amendment) (No.2) Bill, 2017 and Standard for Automatic Exchange of Financial Account Information Bill, 2017.
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