Home Companies & Markets Lotto companies in lower tax plea

Lotto companies in lower tax plea

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By Cecil MENSAH

The association of Lotto Marketing Companies (LMCs) has registered their displeasure about the levels of tax imposed on their operations by the lotto governing authority.

The members have argued strongly that they want the taxes on wins lifted to enable them compete with the other operators in the banker-to banker sector.

According to the executives of the LMCs, a five to seven per cent tax has been imposed on their operations whereas those operating banker-to-banker do not pay such tax. They argue that this is hindering growth in the mainstream lottery sector.

In spite of all these, the executives took the opportunity to commend the National Lottery Authority for the prompt payment of their commissions.

They, however, called on the lottery authority to have the current commission on their operations reviewed upwards from twenty per cent to twenty-five per cent.

According to the LMCs, it is about time the Banker-to-Banker operators are roped into the tax net.

The members of the LMC, led by their General Secretary, Kofi Frimpong said the operational tax coupled with the tax slapped on wins is impacting negatively on the legal lottery regime of the economy.

Writer’s Email: cecilm@businessdayghana.com   

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