• recent reforms in fiscal regime of mining sector in

    recent reforms in fiscal regime of mining sector in ghana. Tax Reforms & Revenue Mobilisation: A Case Study of the Mining Sector of Ghana . assess the impact of fiscal regimes in the mining sector in Ghana on revenue . a holistic review of the principle of ring-fencing and identifying new sources.

  • Ghana: More revenue through fiscal reforms

    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 understand the rules and laws regulating the sector.

  • Fiscal Management of Mining and Petroleum in

    1-3-2018· 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.

  • Importance of Mining to the Economy of Ghana
    IntroductionBackground to The Gold Sector2 The Importance of Tourism to Growth and Development in Ghana.3 Conclusion4 ReferencesMining is one of the oldest industries to have ever developed in West Africa. Mining existed in Ghana long before the colonial era. The mining sector is an important segment of the Ghanaian economy and has played a significant role in the country’s socioeconomic development since the colonial period. Historically, the mining sector’s contribution to gross foreign exchange, particularly gold, has only been paralleled by the cocoa sector. Consequently, the mining sector has witnessed intense po...
  • In Ghana, civil society is driving mining and oil

    15-9-2017· Ghanaian CSOs engaging on these and other extractive sector reform efforts have a dauntingly full plate. This is in some ways a product of their own effectiveness. At Oxfam, we will be working with them to help drive the extractives reform agenda in Ghana, with the global oil and mining industries, and with the international financial institutions.

  • The World Bank’s Evolutionary Approach to Mining Sector Reform

    viii The World Bank’s Evolutionary Approach to Mining Sector Reform Acknowledgments This paper began its life as a sector brief for the International Development Association (IDA) for which the content had to be greatly reduced. It expands beyond the World Bank’s mining sector work in

  • How Zimbabwe’s new fiscal regime impacts on

    16-8-2019· How Zimbabwe’s new fiscal regime impacts on mining sector. By newsday August 16, campaign in Zimbabwe and legislators to easily figure out how agile or fragile the mining fiscal transparency reform agenda is. Recent Posts. 2019: An interesting year for the music industry newsday December 31,

  • The World Bank’s Evolutionary Approach to Mining Sector Reform

    viii The World Bank’s Evolutionary Approach to Mining Sector Reform Acknowledgments This paper began its life as a sector brief for the International Development Association (IDA) for which the content had to be greatly reduced. It expands beyond the World Bank’s mining sector work in

  • Fiscal Policy Reforms and Their Effects on the

    Abstract. Mineral sector regulatory and fiscal policies in Ghana have undergone a lot of reforms over the past three decades in an effort to attract the much-needed Foreign Direct Investment (FDI) into the mineral sector and also to maximise the returns from the exploitation of mineral asset to the country.

  • Financial and monetary policies in Ghana: A

    This study has reviewed recent monetary and financial policies pursued in Ghana. The paper concludes that generally, while there have been remarkable improvements in the key monetary indicators which suggest relatively effective monetary policies during the period under review, the fiscal imbalance in the country has limited these outcomes.

  • Ghana's government focuses on reforming small

    7-12-2015· The government has also been active in introducing legal reforms in recent years, particularly those aimed at supporting small-scale miners, passing six new mining laws and regulations in 2012 alone. However, a move to alter the tax regime for small-scale miners will likely face challenges as a result of depressed global commodities prices.

  • Contribution Minerals and Mining Sector to

    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.

  • Mining: Sector Results Profile World Bank

    15-4-2013· 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 recipient countries.

  • Economy of Ghana Wikipedia

    The financial services in Ghana have seen a lot of reforms in the past years. The Banking The Ghana Renewal Energy Act provides the necessary fiscal incentives for renewable energy development by the private sector, The overall investment regime in Ghana lacks market transparency.

  • 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

  • Ghana Extractive Industries Transparency Initiative

    Gold remains the leading mineral in revenue generation. According to the Ghana Labour Force Survey 2015, the total number of people employed in the mining and quarrying sub-sector which includes oil and gas was 74,663. The study estimates 257,606 people are engaged in household enterprises in the mining and quarrying sub-sector.

  • IMPACT OF MINING SECTOR INVESTMENT IN GHANA: A STUDY

    light of the extremely generous fiscal and other incentives given to mining companies under the mining sector reforms. As observed by Patricia Feeney, the World Bank strategy is surprisingly silent on measures that might be required to protect the rights of vulnerable segments of the society during the economic transition4. Ghana’s structural

  • Fiscal reforms in the extractives Policy Brief sector for

    Box 1: Green fiscal reforms in the extractives sector Some examples from practice In the UK, an aggregates levy seeks to internalize the external costs of mining, mainly quarrying, and encourage recycling. In Mexico, an annual fee is applied on gross income from gold, silver and platinum mining to raise funds to reduce

  • 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

  • Mining 2020 Laws and Regulations Ghana

    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

  • Over taxed? Does the tax regime encourage new mines?

    Burkina Faso, Namibia and Ghana. We chose these nations as they have a tradition of mining and to demonstrate the impact of different fiscal regimes on the decision making of a mining company specifically the decision on whether to invest in the development and construction of a new mine. To ensure our analysis is only commenting

  • recent reforms in fiscal regime of mining sector

    Legal and regulatory changes in Ghana address challenges . GhanaEnergy. The mining sector in Ghana, in particular gold mining, is one of Africa's oldest, but growth has been hampered in recent years by external factors such as lower metal prices and internal ones like the rising cost of electricity and illegal mining.

  • ANALYSIS Taxes, indigenisation and transparency:

    Certainly, investors are needed to unlock value in the mining sector, but government must not prejudice the constitutional right of communities to benefit from resources in their localities. As it stands, mining fiscal transparency reform agenda is quite fragile. ___

  • Zimbabwe mining sector continues to grow

    24-7-2017· Patrick Chinamasa, Finance Minister, said that the sector will continue to grow this year following an overall growth of 8.2% in 2016. While the industry will grow, the contribution to Zimbabwe’s GDP remains inconsequential, something that a new mining fiscal regime will look to address.

  • 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

  • Ghana Fiscal Guide 2017/2018 KPMG

    Ghana has a positive attitude towards foreign private investment. There are, however, limited restrictions on sectors or areas in which a foreign investor cannot participate. Ghana also requires a certain level of local participation in certain projects promoted by a foreign investor dependent upon the nature of