Bullion Traders, Small Scale Miners Pay Over GHC90m In Taxes To Government

In a press articulation marked by the Chief Executive Officer(CEO) of the Chamber Mr. Daniel Krampah, he demonstrated that from the center of May 2020, the Chamber in a joint effort with the Ghana Revenue Authority(GRA) have been gathering retaining charge on gold fares from authorized gold dealers and the little scope excavators for the Government.

From mid May to end of August 2020 around nine tons of gold was traded which achieved in $526.32 million dollars in unfamiliar trade into the nation.

The advancement of reasonable mining industry in the nation has been one of the cardinal purposes of the Chambers exercises. Since its arrangement the Chamber and Ghana National Small Scale

Excavators Association(GNSSMA) have been working connected at the hip with the GRA to create income for government.

Mr Krampah expressed that given what they had the option to accomplish or acknowledged between just May and August, the Chamber is anticipating about Ghc200 million duty to be gathered by the end of the year 2020, at a 3% retaining charge on gold fares by the LGEs and its specialists just as the Small Scale Miners in the nation.

He stated, for the period of August 2020 alone, the Chamber as a team with GRA gathered over GHC12.96million as Withholding Tax on the fare of gold.

The CEO additionally expressed that the Chamber is presently in chats with the neighborhood processing plants and are idealistic that their conversations to get them on board will yield positive outcomes so gold purchased from little scope diggers will be refined here to include an incentive before it is traded.

Again he indicated that by the primary quarter of 2021 individuals from the Chamber and nearby treatment facilities will formalize working relationship with abroad processing plants for accreditation for the refining of gold in Ghana before it is traded.

The CEO brought up that right now private gold processing plants in the nation (which are lying inert) have the ability to refine around (22) tons of gold every month and this limit will increment to around (26) tons every month when the treatment facility being set up at the Precious Minerals Marketing Company (PMMC) gets operational. With this limit gold created by little scope and huge scope mines in the nation and even gold from the West African sub-area can be refined in the nation.

The CBTG supplies mining coordinations and consumables just as associated administrations to the mining segment in Ghana. Its individuals offer purchasing, sending out and related administrations to the mining segment while advancing reasonable mining industry in the nation as has been one of the cardinal focuses in the Chambers exercises.

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