In a proactive effort to strengthen regulatory compliance within the nation’s growing betting sector, the National Revenue Authority (NRA) held a crucial meeting with representatives from major betting companies on Friday, January 24th, 2025, at Rensis House, located on 5 Gloucester Street, Freetown. The gathering was focused on addressing compliance issues and reviewing provisions in the Finance Acts of 2024 and 2025, which govern taxation and regulation within the betting industry.
Both Finance Acts highlight key measures aimed at regulating betting activities and ensuring tax obligations are met. The NRA has expressed concern over the rapid expansion of the betting sector, prompting the need for stricter enforcement to maintain accountability and transparency.
The meeting covered a wide range of topics, including the submission of Returns for Pay As You Earn (PAYE), Withholding Taxes, Goods and Services Tax (GST) and Excise Tax on Gaming and Betting. A critical point of discussion was the requirement for betting companies to link their systems with the NRA, ensuring the accurate disclosure of their activities and improving audit transparency.
Acting Commissioner of the Domestic Tax Department, James B. Tengbeh, emphasized the importance of compliance, underscoring the Government’s commitment to creating a transparent and accountable betting environment. “Our objective is to work collaboratively with industry stakeholders to ensure that all betting companies are fully compliant with the provisions of the Act,” James B. Tengbeh stated.
During the session, Deputy Commissioner of the Domestic Tax Department, Edwin Conteh, warned betting companies that the sector is under heightened scrutiny. He reiterated that non-compliant companies would face penalties as outlined in the Finance Act 2025.
Key representatives from prominent betting companies such as Mercury International, Global Online Betting, Elephant Bet SL Ltd., Grand Casino and Cheng Xing were present at the meeting. These representatives shared insights into the challenges their companies face in meeting compliance requirements. The dialogue provided an opportunity for the NRA to clarify key aspects of the law and offer guidance on best practices for industry players.
Ms. Martina B. Egbenda, Director of Legal and Corporate Services at the NRA, also reminded the attendees of the legal requirements surrounding data sharing, emphasizing that betting companies must adhere to these provisions to ensure compliance with the law.
As the meeting concluded, both the NRA and the betting companies expressed a commitment to ongoing collaboration. The session marks a significant step in the Government’s efforts to regulate the betting industry, ensuring that it operates within the established legal framework.
