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• Yaw 1 year ago

  Winning lottery prizes are always subject to taxation. However, marketing strategies can sometimes create the impression that lottery winnings are not taxed. For instance, if the prize money is GHS100,000.00, the lottery comp ...
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  Winning lottery prizes are always subject to taxation. However, marketing strategies can sometimes create the impression that lottery winnings are not taxed. For instance, if the prize money is GHS100,000.00, the lottery company can either coordinate with tax authorities to handle the tax payment or leave it to the winner to manage. This individual is merely promoting what benefits his company financially. It is possible to arrange for the tax to be deducted without the winner's awareness. For example, the prize could be advertised as GHS122,000.00, with the winner responsible for paying the 22% tax, or simply state the prize as GHS100,000.00 after accounting for taxes internally.

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• inercycl 1 year ago

  @yaw: you're so on point. Very smart. Ghanaians want government to do everything for them without asking where the money comes from. Lottery winnings are income and every income is taxed. Some rich guy gifted 2 houses to his ...
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  @yaw: you're so on point. Very smart. Ghanaians want government to do everything for them without asking where the money comes from. Lottery winnings are income and every income is taxed. Some rich guy gifted 2 houses to his sisters and I am yet to know if the government taxed those sisters:gift tax.
  If all these measures are put in place, I don't think the government will go "a-borrowing" for every project in this country.

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• Kk 1 year ago

  Your right bro.

  Your right bro.

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• Koop Mensah 1 year ago

  This man is stupid. Has he been in USA before?, lf not then he have to stop that nonsense talk.Foolish man.

  This man is stupid. Has he been in USA before?, lf not then he have to stop that nonsense talk.Foolish man.

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• Mark Anthony 1 year ago

  So you are resorting to insults rather? Why don't you just go ahead and present your disagrement and present your idea and argument if you are that smart? Please with due respect kindly refrain from such next time.
  I second ...
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  So you are resorting to insults rather? Why don't you just go ahead and present your disagrement and present your idea and argument if you are that smart? Please with due respect kindly refrain from such next time.
  I second his view in that lottery is a win and loose venture and so as no one helps the investor/lottery stake defray his looses no should his/her earnings not be taxed.

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• Mark Anthony 1 year ago

  # so should his/her winnings and looses not be taxed.

  # so should his/her winnings and looses not be taxed.

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• ST GHFUO: OKRAKU AND OTTO MUST GO NOW!!!!! 1 year ago

  lottery winnings are money earned and like any accountant will tell you. money earned must be taxed. this current leadership are dumb and confused they dont know what they are doing

  lottery winnings are money earned and like any accountant will tell you. money earned must be taxed. this current leadership are dumb and confused they dont know what they are doing

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• Mark Anthony 1 year ago

  See you too. Dump as in presenting an idea and calling for a discussion? You stake a 1000 you loose. You stake an another 1000 and you loose again. Then you win a 500 and you want to be taxed? You pays for the previous1500 or ...
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  See you too. Dump as in presenting an idea and calling for a discussion? You stake a 1000 you loose. You stake an another 1000 and you loose again. Then you win a 500 and you want to be taxed? You pays for the previous1500 or so deficit? Please let's be reasonable.

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• Mark Anthony 1 year ago

  # who pays?

  # who pays?

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• Nana 1 year ago

  In this nation, every individual considers themselves a self-proclaimed expert. It is crucial to recognize that lottery income is subject to taxation in all countries, particularly in the United States. Additionally, interest ...
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  In this nation, every individual considers themselves a self-proclaimed expert. It is crucial to recognize that lottery income is subject to taxation in all countries, particularly in the United States. Additionally, interest accrued on personal funds held in a bank is also taxable. Furthermore, monetary gifts, tips, and inherited funds are all subject to taxation. It is essential to address the question of how Ghana can progress if its citizens refuse to contribute to development through tax payments. The time is approaching when every Ghanaian citizen will be required to declare their annual income for tax purposes, as is customary in developed nations. It is imperative to acknowledge that the advancement of a country entails certain costs.

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• Mark Anthony 1 year ago

  A great idea is not bound to the Western world, okay? Even the Westerners will agree with me just because they are doing it means it's always right. Please come again.

  A great idea is not bound to the Western world, okay? Even the Westerners will agree with me just because they are doing it means it's always right. Please come again.

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• Mark Anthony 1 year ago

  # just because they are doing it does not mean its right.

  # just because they are doing it does not mean its right.

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• Po 1 year ago

  Boss the lottery is from the West wai .
  We know it's taxed in the US, I can testify to that.
  Money earned through either working or winning is taxable in all these advanced countries we aspire to become.
  Emotional reacti ...
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  Boss the lottery is from the West wai .
  We know it's taxed in the US, I can testify to that.
  Money earned through either working or winning is taxable in all these advanced countries we aspire to become.
  Emotional reaction is understandable because we see lottery as lucky business but technically the money is an earning. My brother it's the law of the land so chill.

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• Mark Anthony 1 year ago

  Ghanaweb kindly making it possible to correct typos. An editing feature. Thank you.

  Ghanaweb kindly making it possible to correct typos. An editing feature. Thank you.

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• V 1 year ago

  Hmmm

  Hmmm

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• Tax 1 year ago

  Not all advanced countries tax lottery wins.
  Those who do not gamble are those advocating taxes on lottery. Smh.
  The man is speaking sense yet those with low comprehension are insulting him. Illegal gambling is on the rise ...
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  Not all advanced countries tax lottery wins.
  Those who do not gamble are those advocating taxes on lottery. Smh.
  The man is speaking sense yet those with low comprehension are insulting him. Illegal gambling is on the rise and nobody pays taxes there

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• Kobby11_11 1 year ago

  If we should abolish tax on betting earnings, then we might as well abolish income tax for the general public. This is pure discrimination. Why should someone pay taxes on the income they earn, but the authorities then turn a ...
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  If we should abolish tax on betting earnings, then we might as well abolish income tax for the general public. This is pure discrimination. Why should someone pay taxes on the income they earn, but the authorities then turn around to say this group of income earners shouldn't pay tax. After all, the betting tax is only activated when one wins so what's all the fuss about?

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