…“The measure forms part of Lagos’ broader drive to strengthen tax compliance,
LAGOS, NIGERIA- The iNews Times | The Lagos State Government has commenced the enforcement of a five per cent withholding tax on winnings from licensed gaming platforms operating in the state.
The Chief Executive Officer of the Lagos State Lotteries and Gaming Authority, Are Bashir, disclosed this in a public notice issued on Friday.
He explained that the directive takes immediate effect and applies to players’ net winnings, with the deduction to be made at the point of payout.
Bashir instructed all licensed gaming operators across Lagos state to comply promptly with the new tax structure in accordance with existing Nigerian tax laws and regulations guiding the gaming sector.
The notice stated that the five per cent tax will be automatically deducted before winnings are paid out and subsequently remitted to the Lagos State Internal Revenue Service, the state’s statutory tax authority.
According to Bashir, the initiative forms part of the government’s broader efforts to enhance tax compliance, transparency and accountability within the rapidly expanding gaming industry.
“The measure forms part of Lagos’ broader drive to strengthen tax compliance, transparency and accountability in the fast-growing gaming sector,” the notice read.
He added that under the new framework, players must provide their National Identification Number (NIN) in line with Know Your Customer (KYC) requirements.
Bashir clarified that all deductions and remittances will be carried out strictly by licensed operators in compliance with regulatory guidelines. Players will receive their winnings after the statutory deduction, with accurate records maintained to ensure transparency.
He further noted that the withheld amount will serve as a tax credit for the player.
“All licensed gaming operators in Lagos State have now been formally directed to begin the deductions with immediate effect,” the notice added.
Bashir emphasised that the policy is designed to strengthen regulation of the gaming sector while ensuring that both operators and players meet their tax obligations in the state.
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