27.2 C
Sunday, June 4, 2023


A GHS843m tax payment made by Newmont to government

Related stories

Angry customer lashes out at Ursula Owusu over sim block

Following the government's October 1, 2021 announcement regarding mandatory...

Oil prices rise as US Congress approves debt deal

Despite market uncertainty surrounding the upcoming OPEC+ meeting, where...

Churches, schools, and cemeteries exempted from property rates – GRA

A number of organizations, including churches, cemeteries and schools,...

Ghana’s energy sector needs an audit to determine its debt levels – COPEC

The Chamber of Petroleum Consumers Ghana (COPEC) has urged...

Power Purchase Agreements should be reviewed – World Bank

The World Bank is urging the government to reconsider...

Surfline SIMs delinked from Central SIM Database

The National Communications Authority (NCA) has delinked all Surfline...

US govt fines British Airways $1.1m for failing to refund cancelled flights

British Airways has been fined $1.1 million (£878,000) by...

Zipline has successfully delivered more than 5 million health supplies since 2019 -CEO

The General Manager of Zipline, Mawuli Atiemo, has announced...

AGI dissatisfied with the current business environment for manufacturers

The Association of Ghana Industries (AGI) has strongly criticized...
- Advertisement -

Newmont Africa has revealed that its Ghana operations (Ahafo South and Akyem mines) paid a total of GHS843.72 million in taxes, royalties, and levies to the Ghanaian government through the Ghana Revenue Authority (GRA), Forestry Commission, and Ministry of Finance in the first quarter of 2023.

This amount consists of corporate tax (GHS514.57 million), minerals royalties (GHS197.06 million), Pay As You Earn (GHS78.23 million), GHS42.31 million as withholding tax and GHS11.55 million as forestry levy.

- Advertisement -

“Fulfilling our obligations in terms of statutory payments, and being transparent about what we pay, are in line with our commitment to regulatory compliance and good corporate governance,” said Mr David Thornton, Regional Senior Vice President, Newmont Africa Operations, in a statement issued by the miner.

Newmont Africa’s operations in Ghana have a strong tax compliance history and the company has received multiple taxpayer recognitions from the GRA.

- Advertisement -

“It is important, especially in these challenging times, for companies to honour their obligations to the state, as well to their various stakeholders, through direct payment of their taxes and investment in social programmes,” Mr Thornton added.

Apart from the taxes, royalties, and levies that go directly to government towards the growth and stabilisation of the economy, Newmont Africa said it also focuses on stimulating economic development in the local communities that host the mining operations, through a range of programmes and projects that deliver measurable outcomes.

- Advertisement -

Being cognisant of the key role that road infrastructure plays, particularly in farming communities, Newmont Africa’s operations in Akyem and Ahafo have both funded critical road infrastructure, working through the Ministry of Roads and Highways.

Newmont’s investment in skills acquisition and sustainable livelihood programmes also ensure that local community residents are equipped with employable skills that are needed in the extractive and construction industries.


- Never miss a story with notifications

- Gain full access to our premium content

- Browse free from up to 5 devices at once

Latest stories