24th January, 2025

Rensis House 5 Gloucester street, Freetown.

In a significant move aimed at enhancing regulatory compliance within the betting sector, the National Revenue Authority convened a meeting with key representatives from various betting companies on Friday 24th January 2025. The engagement focused on addressing compliance issues and discussing relevant provisions outlined in the Finance Acts 2024 and 2025.

Both Acts make provision for taxation and the regulation of betting activities in the country. With the betting industry experiencing rapid growth, the NRA is keen to ensure that operators adhere to the regulations and fulfill their tax obligations.

Key topics addressed during the engagement included the submission of Returns for Pay As You Earn (PAYE), Withholding Taxes, Goods and Services Tax and Excise Tax on Gaming and Betting, including the requirement for Betting Companies to link their systems with NRA, with a bid to disclose their activities and subsequently enhance proper auditability.

During the meeting, officials from the NRA highlighted the importance of compliance, emphasizing that the government is committed to fostering 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.” the Acting Commissioner, Domestic Tax Department, Mr. James B. Tengbeh emphasized.

In his contribution, the Deputy Commissioner of Domestic Tax Department, NRA, Mr. Edwin Conteh informed representatives from the Betting Companies that their sector has come under stringent scrutiny which is why they were called to the meeting. He emphasized that penalties will be imposed on non-compliant companies as provided for in the Finance Act 2025.

Representatives from betting companies, including Mercury International, Global Online Betting, Elephant Bet SL. Ltd. Grand Casino and Cheng Xing participated in the discussions. During the meeting, the representatives shared their perspectives on the challenges they face in meeting compliance requirements. The dialogue provided an opportunity for the NRA to clarify the provisions of the relevant laws and offer guidance on best practices for businesses in this sector. In a similar approach, the Director of Legal and Corporate Services, Ms. Martina B. Egbenda reminded them that there are legal provisions for data sharing which the companies are required to abide by.

As the meeting concluded, both the NRA and the betting companies expressed commitment to continuous collaboration thereby marking a proactive approach by the government to regulate the betting industry effectively, ensuring that it operates within the legal framework established by relevant laws.