Taxes on lotto to be scrapped - NLA

Magdalene Teiko Larnyoh 14:09 - 25 July 2017

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The Director General of the National Lottery Authority (NLA) Kwaku Osei-Ameyaw explained that this is part of efforts to get more people interested in the lottery sector and also increase government earnings.

The Nana Addo-led government will soon scrap taxes on lottery wins and writing.

This was disclosed by the Director General of the National Lottery Authority (NLA) Kwaku Osei-Ameyaw.

He mentioned this at a stakeholder forum to streamline the activities in the sector held in Accra on Tuesday (July 25, 2017).

He explained that this is part of efforts to get more people interested in the lottery sector and also increase government earnings.

He added that the project will be piloted for two years before a thorough review.

“What we are saying is that we sent a proposal to the Ministry of Finance to scrap the taxes on your commission. This will broaden the sector and make it profitable to all.”

The erstwhile Mahama-government started the collection of 5% tax imposed on all lotto winnings exceeding GHC2,592, following a re-classification of lotto as an investment activity under the country's new tax law.

However, Osei-Ameyaw sounds hopeful in scrapping the tax for more involvement in the sector.