Online bettors in the state of Lagos in Nigeria will face an immediate 5% withholding tax on their winnings, the regulator has revealed.
Bashir Are, CEO of the Lagos State Lotteries and Gaming Authority, announced the new online gambling tax on Thursday in a public notice. According to the notice, the deduction applies to net winnings from all Lagos-licensed platforms and has taken effect immediately.
The deduction will be automatically taken at the point of payout and will be remitted to the Lagos State Internal Revenue Service.
In the public notice, the LSLGA outlined the reasons behind the state government’s decision to implement the new tax.
