Recent Reforms In Fiscal Regime Of Mining Sector In Ghana

  • New fiscal regime for mining sector soon Bawumia

    Aug 07, 2018· 2018-08-07 Government will soon introduce a new fiscal regime for the mining sector to ensure Ghana derives maximum benefit from the extraction of her mineral resources, the Vice President Dr

  • How Zimbabwe’s new fiscal regime impacts on mining sector

    How Zimbabwe’s new fiscal regime impacts on mining sector Totemic. That is the word which perhaps aptly sums up the potential of Zimbabwe’s huge

  • Ghana: More revenue through fiscal reforms Extractive

    Feb 06, 2016· Ghana’s EITI Report findings have also led to other reforms in the fiscal regime, such as establishing a fixed royalty rate and higher ground rents, to increase revenue from the sector. The latest report provides details on the changes made in the legal and fiscal frameworks related to the extractive industries, which can help stakeholders

  • Introduction TWN Africa

    The Fiscal Regime of Ghana’s Mining Sector. The fiscal regime defines an array of taxes, rents, fees and tax incentives to foreign investors in the mining sector. The quanta of these taxes and incentives have mirrored policy changes in the mining sector since independence.

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  • Government targeting new fiscal regime for the mining

    Aug 06, 2018· 2018-08-06 The government plans to introduce a new fiscal regime for the mining sector, Vice President Mahamudu Bawumia has said.

  • Contribution Minerals and Mining Sector to National

    Jul 01, 2012· Recent reforms and strategies have been put in place to address these challenges. Amongst these, the revision of the draft national minerals and mining policy aims at consolidating various policies in the mining sector into the national minerals and mining policy, with “Sustainable Development through Mining” as a guiding principle.

  • Ghana’s Gold Mining Revenues: An Analysis of Company

    1. GHANA’S GOLD MINING SECTOR In 2012, oil overtook gold as the commodity that generates the most revenue in Ghana. However, the mining sector remains an important source of revenue within the country.5 The government revenue generated from the 10 international gold mining companies referenced in this report accounted for around four percent of

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  • New Fiscal Regime for Mining Sector Soon Vice President

    New Fiscal Regime for Mining Sector Soon Vice President Bawumia Updated Aug 06, 2018 at 6:04am SHARE THIS 0. Government will soon introduce a new fiscal regime for the mining sector to ensure Ghana derives maximum benefit from the extraction of her mineral resources, the Vice President Dr. Mahamudu Bawumia has revealed.

  • Mining Sector Reform In Ghana World Finance

    Investment by the private sector was also facilitated as part of the mining sector reform in Ghana. In the year 2006, World bank had assisted development of the mining sector in Ghana by approving approximately, USD75 million to Newmont Mining, which is regarded as the largest producer of gold.

  • Mining 2020 Laws and Regulations Ghana ICLG

    2.1 Are there any recent political developments affecting the mining industry? Ban on small scale mining. In response to concerns about the small-scale mining sector, accused of causing major pollution of water bodies in the country, the Ministry of Lands and National Resources launched a project dubbed “The Multilateral Integrated Mining Approach which hinges on

  • Gov't targeting new fiscal regime for the mining sector

    The government plans to introduce a new fiscal regime for the mining sector, Vice President Mahamudu Bawumia has said. The new laws and regulations are to ensure Ghana derives maximum benefit from the extraction of mineral resources, the Vice President said.

  • New Fiscal Regime For Mining Sector Soon Bawumia

    Government will soon introduce a new fiscal regime for the mining sector to ensure Ghana derives maximum benefit from the extraction of her mineral resources, the Vice President of the Republic has revealed.

  • IMPACT OF MINING SECTOR INVESTMENT IN GHANA: A

    The historical importance of mining in the economic development of Ghana is considerable and well documented, with the country’s colonial name -- Gold Coast --reflecting the importance of the mining sector. Gold dominates the mining sector and 1 THE WORLD BANK. 1992, Strategy for African Mining. World Bank Technical Paper No.181, African

  • New Fiscal Regime For Mining Sector Soon Vice President

    New Fiscal Regime For Mining Sector Soon Vice President Bawumia Communications Bureau Latest News 05 August 2018 Government will soon introduce a new fiscal regime for the mining sector to ensure Ghana derives maximum benefit from the extraction of her mineral resources, the Vice President of the Republic has revealed.

  • Experience of Mining Tax Reforms and TWN Africa

    It is worth noting the conditions under which these two reforms were initiated. The 2002 tax regime was established when the Congolese Mining Sector was nearly at total collapse. The 2012 mining legislation reform, however, was initiated when the mining sector was full-grown. In 2012, the sector produced close to one million tons of copper.

  • Fiscal Management of Mining and Petroleum in West Africa

    Mar 01, 2018· The conference brings together government officials from selected countries in West Africa with current or prospective mining and petroleum activities. The topic is how to improve fiscal management of mining and petroleum, integrating fiscal regime design, revenue administration, and macro-fiscal policy.

  • THE ROLE OF FOREIGN DIRECT INVESTMENT (FDI) IN THE

    ERP 1983. Apart from the general macro-economic policy reforms for the country, there were specific sector policy reforms that sought to boost investor interest in the mining sector, a new Mineral and Mining Law (PNDCL 153) of 1986 vests all minerals in the Government of Ghana on behalf of the people of Ghana.

  • Mining 2020 Laws and Regulations Ghana ICLG

    2.1 Are there any recent political developments affecting the mining industry? Ban on small scale mining. In response to concerns about the small-scale mining sector, accused of causing major pollution of water bodies in the country, the Ministry of Lands and National Resources launched a project dubbed “The Multilateral Integrated Mining Approach which hinges on

  • Tanzania: Magufuli’s mining reforms African Arguments

    Jul 17, 2017· Tanzania wants foreign investment just as mining companies want the favour of government. Magufuli compromises when he needs to. He settled a dispute with Dangote in 2016, and it is likely that he will amend recent changes to mining if he needs to. But until recently, mining companies seemed determined to slow down reforms at every turn.

  • Economy of Ghana Wikipedia

    The judicial system of Ghana deals with corruption, economic malpractice and lack of economic transparency. Despite significant economic progress, obstacles do remain. Particular institutions need reform, and property rights need improvement. The overall investment regime in Ghana lacks market transparency. Tackling these issues will be

  • Importance of Mining to the Economy of Ghana

    The historical performance of Ghana’s mining industry is well-known; especially, the production slump in the three decades prior to 1986 when as part of the country’s Economic Recovery Program the Minerals & Mining Law of 1986 was promulgated to attract investment into the sector and to improve production.

  • TAX REFORMS & REVENUE MOBILISATION: A CASE STUDY

    this study is to assess the impact of fiscal regimes in the mining sector in Ghana on revenue mobilization in the sector using tax elasticity and buoyancy ratios. The Singer method of dummy variables was employed in order to make adjustment for the effect of discretionary tax measures so as to compute and then compare buoyancy and

  • Zambia's New Mining Tax Regime May Fail the Test of Time

    Jul 04, 2016· This presents the government of Zambia with a severe challenge. Officials must preserve mining revenues to fund the budget and avoid further mine closures and a drop in investment in the sector. In response to this challenge, the government has proposed a new tax regime as part of the 2017 budget. The regime contains three significant changes:

  • Ghana Targets New Value-Added Fiscal Regime for Minerals

    Aug 05, 2019· Ghana will soon introduce a new fiscal regime for the minerals sector to ensure that the country derives maximum benefit from the extractives sector, Vice President Dr. Mahamudu Bawumia has announced. The new regime is part of what the Vice President describes as paradigm shift from raw mineral exports to value addition and utilisation of

  • Assessing the Petroleum Fiscal Regimes of Nigeria, Ghana

    Assessing the Petroleum Fiscal Regimes of Nigeria, Ghana, and Cameroon Sara Zedingle Ghebremusse Master of Laws Faculty of Law University of Toronto 2014 Abstract Petroleum extraction is a lucrative source of tax revenue for many governments in Sub-Saharan Africa. However the generation of oil tax revenue can be limited by the need to

  • Importance of Mining to the Economy of Ghana

    The historical performance of Ghana’s mining industry is well-known; especially, the production slump in the three decades prior to 1986 when as part of the country’s Economic Recovery Program the Minerals & Mining Law of 1986 was promulgated to attract investment into the sector and to

  • Tanzania: Magufuli’s mining reforms African Arguments

    Jul 17, 2017· Tanzania wants foreign investment just as mining companies want the favour of government. Magufuli compromises when he needs to. He settled a dispute with Dangote in 2016, and it is likely that he will amend recent changes to mining if he needs to. But until recently, mining companies seemed determined to slow down reforms at every turn.

  • TAX REFORMS & REVENUE MOBILISATION: A CASE STUDY

    this study is to assess the impact of fiscal regimes in the mining sector in Ghana on revenue mobilization in the sector using tax elasticity and buoyancy ratios. The Singer method of dummy variables was employed in order to make adjustment for the effect of discretionary tax measures so as to compute and then compare buoyancy and

  • Zambia's New Mining Tax Regime May Fail the Test of Time

    Jul 04, 2016· This presents the government of Zambia with a severe challenge. Officials must preserve mining revenues to fund the budget and avoid further mine closures and a drop in investment in the sector. In response to this challenge, the government has proposed a new tax regime as part of the 2017 budget. The regime contains three significant changes:

  • Mining: Sector Results Profile World Bank

    The World Bank has supported 41 mining sector reform (technical assistance) projects in 24 countries since 1988. The reforms have contributed to an increase in investment in the mining sector and related economic indicators such as exports, fiscal revenues and gross domestic product (GDP) in

  • Corporate income taxes, mining royalties and other mining

    PwC Corporate income taxes, mining royalties and other mining taxes—2012 update 3 as “ring fencing”. The Ghana government, in the 2012 Budget Statement, proposed an increase to the corporate income tax rate from 25% to 35% and an additional tax of 10% on mining companies. Ghana’s proposed tax increases are likely to take

  • DRAFT NATIONAL MINING POLICY OF GHANA

    National Mining Policy of Ghana 6 mining sector contributed 12.7% of Government revenue, 3.2% of corporate tax and 40% of total merchandise export revenues. In 2009, the sector contributed 7% of Ghana’s total corporate tax earnings, 45% of total export revenues, 19.8% of

  • World Bank Document

    The World Bank Ghana Energy Sector Transformation Initiative Project (P163984) Page 8 of 57 I. STRATEGIC CONTEXT A. Country Context 1. Over the past decade, overall economic growth in Ghana was robust while poverty declined. The 2015 World Development Indicators show that the national poverty headcount was reduced from

  • Ghana: Economic Development in a Democratic Environment

    Ghana's economic strategy since 1992 has focused on macroeconomic stabilization and structural reform in a democratic environment. Within Ghana, a rich economic and political debate informs and influences government policies. Newspapers and magazines keep the public aware of current economic

  • Conditionality in World Bank crisis-lending to Ghana

    whether this economic sector will contribute to the country’s long term sustainable growth by creating decent jobs and boosting the local economy. The conditions attached to the 2009 World Bank loans require the Ghanaian government to establish a fiscal regime to tax the income and profits by the companies that will extract the oil.

  • Madagascar Extractive Industries Transparency Initiative

    During exploration, the fiscal regime is that of common law, stipulated by the General Tax Code. There have been extensive consultations about the potential reform of the mining and petroleum codes between 2015 and 2017, but the process seems to have stalled in 2018.

  • Ghana: on our way to participatory reform in the artisanal

    IIED's first in a series of local multi-stakeholder dialogues on artisanal and small-scale mining (ASM) started in Ghana in autumn 2015. During a 'visioning workshop' on ASM in April 2015, participants from around the world came together to discuss the pressing challenges and opportunities for ASM, and which countries might benefit most from a locally-driven dialogue process.

  • Tanzania's new mining rules impose restrictions on foreign

    Africa’s fourth-largest gold producer is seeking to take more of the profits from its vast mineral resources by overhauling the fiscal and regulatory regime of its mining sector. Under new