Starting from 15 August, in compliance with Ghana's new tax regulations, a 10% Withholding Tax (WHT) will be applied on your net winnings from Sports Betting and Online Gaming.

The Ghana Revenue Authority, in collaboration with other governmental bodies, has implemented this tax on gaming winnings as a part of its broader revenue collection strategy. It's important to understand that this tax is mandated by law, and all operators must comply.

We understand that this new tax might raise questions and even concerns among our valued players. We are committed to ensuring transparency in how the tax is calculated and deducted and providing channels for you to ask questions or voice concerns.

When is the tax calculated and deducted?

The tax is due on your winnings at the end of each game, which is the moment you decide to request a withdrawal of funds from your BetFox wallet back to your MoMo account. The tax might however not be due on your full withdrawal amount, as your initial stake, i.e. the money you deposited, is being deducted from the taxable amount, so that you are only being taxed for your actual winnings.

What is the Deductible Stake?

The Deductible Stake is the total money you have deposited since your last withdrawal, or within the last 30 days if you haven't made a withdrawal during that period. It represents your stakes for the current gaming session. At your next withdrawal, no withholding tax will be due on this amount. This way, you only pay tax on your gross winnings, not on your stakes.

Keep in mind, the Deductible Stake resets to zero with each withdrawal (or the next deposit or bet placed thereafter). If you choose to withdraw less than your Deductible Stake, you might not be able to use the remaining amount to offset future withdrawals.

Have Questions or Concerns?

Please feel free to reach out to our dedicated customer support team, who are trained to assist with any queries related to the WHT. You can reach us as usual via live chat or phone.