The Lagos State Government has begun enforcing a five per cent withholding tax on gaming winnings from licensed gaming platforms operating within the state.
The Chief Executive Officer of the Lagos State Lotteries and Gaming Authority, Are Bashir, made this known in a public notice issued on Friday.
He stated that the policy, which takes immediate effect, applies to players’ net winnings and is to be deducted at the point of payout.
Bashir directed all licensed gaming operators in the state to comply immediately with the new tax framework in line with existing Nigerian tax laws and regulatory directives governing the gaming industry.
According to the notice, the five per cent deduction will be automatically withheld before winnings are paid to players and remitted to the Lagos State Internal Revenue Service as the statutory tax authority.
Bashir said the initiative is part of the state’s wider efforts to improve tax compliance, transparency and accountability in the fast-growing gaming sector.
