Mining Industry Contributes GH¢1.46 Billion In Taxes

Dr Toni AubynnThe Chief Executive Officer of the Ghana Chamber of Mines, Dr. Toni Aubynn, has disclosed that the mining industry contributed about GH¢1.46 billion to the Ghana Revenue Authority (GRA), representing 27.04 per cent of GRA’s total direct taxes in 2012.

He said the industry also paid GH¢893.77million in corporate tax to GRA, representing 36.98 per cent of the total company tax collected in the year under review.

Dr. Aubynn said this during an interaction with the Brong-Ahafo Regional press corp in Sunyani last Thursday.
The sector he noted voluntarily contributed an amount of GH¢26million to its host communities and the general public, explaining that mining companies returned about US$3.2billion, representing 73 per cent of their mineral revenue through the Bank of Ghana and commercial banks in 2012 against statutory requirement of a minimum of 25 per cent.

The CEO added that the industry continues to be a leading attractor of Foreign Direct Investment (FDI) and directly engaged 21,239 people of which 334 representing 2 per cent were expatriates.

He further revealed that Ghana was the eighth leading producer of gold in the world per the Gold Fields Mineral survey as its output increased by six per cent to 96.8 tonnes regaining its 2010 position.

This he maintained was an improvement on the ninth position it attained in 2011, adding that the industry’s contribution to total merchandise export earnings was about 43 per cent last year-  Daniel Dzirasah, Sunyani

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