recent reforms in fiscal regime of mining sector in ghana

  • Developments In The Mining Sector In Sub Saharan Africa

    africa plays host to more than 1 850 mining projects in various stages of development by many of the world s largest mining companies 1.a large number of deals have reached financial close in recent years but recent legal and regulatory changes have

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  • Mining Sector Results ProfileWorld 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 recipient countries.

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  • Fiscal Regimes for Extractive Industries Design and

    income countries In recent years proven reserves worldwide have increased while extraction rates have accelerated No doubt most of this is due to technological change and high prices Nevertheless fiscal regimes seem to play a role for example fiscal regime revisions from

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  • Ghana government takes steps to address a recent decline

    The Ghana mining sector is said to have enjoyed a fairly stable fiscal regime since the 1980s with major changes only occurring in recent years In 2010 the government increased the royalty rate and corporate tax and changed the structure of the capital allowance recovery regime via amendments to the 2006 Minerals and Mining Act.

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  • Ghana New guidelines for mining Ghana Oxford Business

    9 Jun 2011 In a bid to increase the sector s contribution to economic growth Ghana s national mining policy is set to undergo a major reworking over the next few months The mining sector has performed steadily over the past year particularly in gold production In all it generated revenues of 2.83bn an increase of 27 compared to

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  • Financial and monetary policies in Ghana A review of

    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.

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  • The Mining Industry in Ghana A Blessing or a Curse

    will have to develop a competitive mining regime based on greater economic equality mutual benefit and in accordance with generally accepted notions of fairness Key words Ghana Mining Mineral Products Impact Economy 1.0 Introduction Mining is the process of digging into the earth to extract naturally occurring minerals.

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  • TWN AFRICAAIMES 11 African governments must adopt

    In recent times AIMES has moved to address the problems of mining more systemically and proactively by offering alternative coherent frameworks for the development of Africa s mining sector In line with this the last annual strategy meeting held 2008 developed and adopted a draft coherent alternative regime for mining in Africa with the

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  • Recent Reforms of the Mining Code and Model Mining

    Originally published May 22 2012 Keywords mining code new model mining convention Mauritania The mining income contributes to more than a quarter of Mauritania s gross domestic product and mining is generally seen as a strategic asset in the country s long term growth strategy.

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  • Financial and monetary policies in Ghana A review of

    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.

    Chat Online
  • Mineral investment and the regulation of the environment

    Reforms in Ghana are regarded as typifying the first phase of mining sector reforms undertaken in the context of these programmes UNCTAD 2005a p 41 The mining sector received priority attention under the country s Economic Recovery Programme initiated in 1983 as this sector was considered key to the country s economic revival

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  • Making mining boost the economy in TogoAdam Smith

    We conducted case studies of Ghana s and Burkina Faso s mining fiscal regimes to demonstrate comparative strengths and weaknesses in Togo s fiscal regime We developed a fiscal model to forecast potential revenues from the mining sector and trained officials on its use We developed a road map of legal and fiscal reforms of the mining

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  • IMPACT OF MINING SECTOR INVESTMENT IN GHANA A

    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

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  • Petroleum Fiscal Regimes Research PapersAcademia.edu

    Even in the world s most stable fiscal regime that is the Norwegian regime changes have been implemented to adapt the regime to changes in local and international conditions The Norwegian experience confirms that no fiscal regime is cast in stone but changes can be made while maintaining the stability of government take.

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  • What Democratic Republic of Congo s mining reform means

    There are two core issues First is the extent of reforms that the new mining code undertakes The mining law must look at fixing deep governance flaws in the management of the minerals sector rather than the over focus on the fiscal regime The opacity of mining deals which has involved Gécamines has cost DRC billions of dollars in lost

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  • Making mining boost the economy in TogoAdam Smith

    We conducted case studies of Ghana s and Burkina Faso s mining fiscal regimes to demonstrate comparative strengths and weaknesses in Togo s fiscal regime We developed a fiscal model to forecast potential revenues from the mining sector and trained officials on its use We developed a road map of legal and fiscal reforms of the mining

    Chat Online
  • Mining Companies Shun Ghana For Neighbouring Countries

    Accra Ghana October 12 2019/ Mining companies are shunning Ghana for its neighbouring West African countries due to the obnoxious 12.5 percent Value Added Tax VAT and other multiple taxes imposed on them by the Ghanaian government The Director of External Relations and Communications of the Ghana Chamber of Mines Ahmed Nantogmah who disclosed this at

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  • State Owned Enterprises and Privatisation in Ghana

    moribund public sector which had previously been dependent on state sub ventions and thus succeeded in fulfilling a key role in easing the fiscal crisis and in fostering the Structural Adjustment Programme The big question remained however whether the privatisation process would help the growth of Ghana s economy and help maximise political

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  • Mining and poverty reduction Transforming rhetoric into

    Beyond this World Bank structural adjustment programs often debilitate the ability of the state to raise revenues from the mining sector Using Ghana as an example corporate income taxes which stood at 50–55 in 1975 were reduced to 45 in 1986 and further reduced to 35 in 1994.

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  • Mining and poverty reduction Transforming rhetoric into

    Beyond this World Bank structural adjustment programs often debilitate the ability of the state to raise revenues from the mining sector Using Ghana as an example corporate income taxes which stood at 50–55 in 1975 were reduced to 45 in 1986 and further reduced to 35 in 1994.

    Chat Online
  • Ghana New guidelines for mining Ghana Oxford Business

    9 Jun 2011 In a bid to increase the sector s contribution to economic growth Ghana s national mining policy is set to undergo a major reworking over the next few months The mining sector has performed steadily over the past year particularly in gold production In all it generated revenues of 2.83bn an increase of 27 compared to

    Chat Online
  • Fiscal Policy Reforms and Their Effects on the Economic

    Downloadable 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 This paper puts in perspective the effect of changes in fiscal policies on the

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  • What Democratic Republic of Congo s Mining Reform Means

    The Democratic Republic of Congo DRC has undertaken a bold reform in its mining sector This month DRC s its president Joseph Kabila signed into law a new mining code that increases royalties and taxes that mining companies pay This happened even with intense objections from international mining companies operating in DRC Glencore Randgold China Molybdenum and Ivanhoe.

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  • Ghana s New Mining TaxesA Commentary

    Ghana s 2012 National Budget Statement and Economic Policy proposed among others to bring the following changes to mining operations in the country increase corporate tax rate from 25 to 35 install a windfall tax of 10 and implement a uniform regime for capital allowance of 20 for five years It also sought to review the principle of ring fencing to prevent companies undertaking a

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  • IMPACTS OF FISCAL REFORMS ON COUNTRY

    unstable regime will deter future investors hurting the host country s long term competitive ness # is investor response has been consistent for reforms in low and middle income coun tries such as Tanzania Guinea Ghana Peru Zambia Indonesia and Chile and high income

    Chat Online
  • Mineral investment and the regulation of the environment

    Reforms in Ghana are regarded as typifying the first phase of mining sector reforms undertaken in the context of these programmes UNCTAD 2005a p 41 The mining sector received priority attention under the country s Economic Recovery Programme initiated in 1983 as this sector was considered key to the country s economic revival

    Chat Online
  • Mining Sector Results ProfileWorld 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 recipient countries.

    Chat Online
  • Contribution Minerals and Mining Sector to National

    The mining sector has therefore been an important part of our economy with gold accounting for over 90 of the sector Ghana is the second largest gold producer in Africa and the 9th largest producer in the world The sector directly contributed 38.3 of Ghana s total corporate tax earnings 27.6 of government revenue and 6 GDP in 2011.

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  • BO INCEPTION REPORT RevisedEITI

    Regime for the Mineral Sector 2006 natural resources exploitation gained momentum from early 1990s when the government opened doors to foreign investment in mining sector on the expectation that the investors would bring into the country capital technology and expertise.

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  • Mining and poverty reduction Transforming rhetoric into

    Beyond this World Bank structural adjustment programs often debilitate the ability of the state to raise revenues from the mining sector Using Ghana as an example corporate income taxes which stood at 50–55 in 1975 were reduced to 45 in 1986 and further reduced to 35 in 1994.

    Chat Online
  • Bulletin for International TaxationAll ArticlesIBFD

    01 May 2007 Comparison of recent reforms to Australia s and New Zealand s venture capital tax incentive schemes and investment vehicles 01 May 2007 Singapore s 2007 Budgetto build capabilities for the future 01 May 2007 European Court of Justice permits inheritance tax based on nationality in van Hilten van der Heijden

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  • Ghana s New Mining TaxesA Commentary

    Ghana s 2012 National Budget Statement and Economic Policy proposed among others to bring the following changes to mining operations in the country increase corporate tax rate from 25 to 35 install a windfall tax of 10 and implement a uniform regime for capital allowance of 20 for five years It also sought to review the principle of ring fencing to prevent companies undertaking a

    Chat Online
  • Recent Reforms of the Mining Code and Model Mining

    Originally published May 22 2012 Keywords mining code new model mining convention Mauritania The mining income contributes to more than a quarter of Mauritania s gross domestic product and mining is generally seen as a strategic asset in the country s long term growth strategy.

    Chat Online
  • Making mining boost the economy in TogoAdam Smith

    We conducted case studies of Ghana s and Burkina Faso s mining fiscal regimes to demonstrate comparative strengths and weaknesses in Togo s fiscal regime We developed a fiscal model to forecast potential revenues from the mining sector and trained officials on its use We developed a road map of legal and fiscal reforms of the mining

    Chat Online
  • IMPACTS OF FISCAL REFORMS ON COUNTRY

    unstable regime will deter future investors hurting the host country s long term competitive ness # is investor response has been consistent for reforms in low and middle income coun tries such as Tanzania Guinea Ghana Peru Zambia Indonesia and Chile and high income

    Chat Online
  • 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 as of 2015 The study estimates 257 606 people are engaged in enterprises in the mining and quarrying sub sector.

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  • Fiscal Policy Reforms and Their Effects on the Economic

    Downloadable 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 This paper puts in perspective the effect of changes in fiscal policies on the

    Chat Online
  • Developments In The Mining Sector In Sub Saharan Africa

    africa plays host to more than 1 850 mining projects in various stages of development by many of the world s largest mining companies 1.a large number of deals have reached financial close in recent years but recent legal and regulatory changes have

    Chat Online
  • Ghana government takes steps to address a recent decline

    The Ghana mining sector is said to have enjoyed a fairly stable fiscal regime since the 1980s with major changes only occurring in recent years In 2010 the government increased the royalty rate and corporate tax and changed the structure of the capital allowance recovery regime via amendments to the 2006 Minerals and Mining Act.

    Chat Online
  • State Owned Enterprises and Privatisation in Ghana

    moribund public sector which had previously been dependent on state sub ventions and thus succeeded in fulfilling a key role in easing the fiscal crisis and in fostering the Structural Adjustment Programme The big question remained however whether the privatisation process would help the growth of Ghana s economy and help maximise political

    Chat Online
  • What Democratic Republic of Congo s mining reform means

    There are two core issues First is the extent of reforms that the new mining code undertakes The mining law must look at fixing deep governance flaws in the management of the minerals sector rather than the over focus on the fiscal regime The opacity of mining deals which has involved Gécamines has cost DRC billions of dollars in lost

    Chat Online

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