by Linda Straker
- Tax approved in 2014 by Keith Mitchell Administration but not enforced
- Legislation was amendment to Income Tax Act of 2010
- Game promoter will make tax deduction and pay Ministry of Finance
The Dickon Mitchell Administration has decided to enforce a 15% tax on all game of chance winnings over EC$10,000 as of 1 March 2023.
The 2014 legislation is an amendment to the Income Tax Act of 2010, approved by the Lower House or House of Representatives on 16 May 2014 and by the Upper House or Senate on 29 May 2014 of the then-Keith Mitchell Administration. It was not enforced, and no reason was provided.
According to the law, “winnings” means “winnings of cash, and any reference to an amount and to payment in relation to winnings shall be construed accordingly.”
“A withholding tax of 15% will only be charged on the excess over EC$10,000 and not the full winnings,” explained Mike Sylvester, Permanent Secretary in the Ministry of Finance.
Well-known promoter Wayne Redhead who engages in bingo games, said that he was made aware of the law enforcement in a recent meeting with the Ministry of Finance. “I now have to educate my people about that law once there are winnings beyond EC$10,000,” he said. Redhead also operates a slot machine facility.
The law will apply to all games of chance, including Lotto, Blast, and bingos. It will not be the duty of the individual who won the winnings to pay directly to the Ministry of Finance. The promoter of the game of chance will make the deduction and pass it on to the ministry.
If it is not taxing the FULL amount over $10,000 ec then what amount? Be transparent.
Not sure which story you’ve read but the article said excess over 10,000 will be taxed!
Outrageous….the economy is so tax based it kills everything.
It seems past and present governments are brain dead and stagnant.
It’s about damn time. Listen, there is a need to rebuild Grenada. The place is a joke. The NNP ran Grenada like it was their personal Piggy Bank. NDC needs to start somewhere. A great way to start. Do you know how high the percentage is in America for winners and its much lower than $10000?
This is what I call a step in the right direction. That is what you call government for the people by the people.