{"id":14495,"date":"2012-09-12T04:15:02","date_gmt":"2012-09-12T02:15:02","guid":{"rendered":"http:\/\/www.myza.co.za\/09\/ghana-mulls-whether-to-scrap-windfall-tax-on-miners-profits\/"},"modified":"2012-09-12T04:15:02","modified_gmt":"2012-09-12T02:15:02","slug":"ghana-mulls-whether-to-scrap-windfall-tax-on-miners-profits","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/ghana-mulls-whether-to-scrap-windfall-tax-on-miners-profits\/","title":{"rendered":"Ghana mulls whether to scrap windfall tax on miners&#8217; profits"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* Government delays collecting tax, &#8220;weighing options&#8221;<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* Ghana looking to capitalise on soaring gold prices<\/p>\n<p><span><\/span><\/p>\n<p>* Worries tax could do more harm than good<\/p>\n<p><span><\/span><\/p>\n<p>By Kwasi Kpodo<\/p>\n<p><span><\/span><\/p>\n<p>ACCRA, Sept 11 (Reuters) &#8211; Ghana has delayed implementing a<br \/>\nwindfall tax on mining profits while it considers whether to<br \/>\nscrap the proposed levy, the head of the country&#8217;s mining<br \/>\nregulator said on Tuesday.<\/p>\n<p><span><\/span><\/p>\n<p>The West African nation, the continent&#8217;s second-largest<br \/>\nsource of gold, proposed the 10 percent windfall tax on<br \/>\nmining companies&#8217; profits in its 2012 budget as part of measures<br \/>\nto boost income to state coffers.<\/p>\n<p><span><\/span><\/p>\n<p>The government also raised the corporate tax rate on miners<br \/>\nfrom 25 to 35 percent for this year.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;There are areas we need to look at carefully to decide<br \/>\nwhether the windfall tax is the best way to go&#8230;It&#8217;s a complex<br \/>\ntax and we are still weighing the options,&#8221; Ben Aryee, chief<br \/>\nexecutive of the Minerals Commission told Reuters.<\/p>\n<p><span><\/span><\/p>\n<p>The International Monetary Fund last year recommended that<br \/>\nGhana, which is also the world&#8217;s number 2 cocoa grower and an<br \/>\noil producer, consider raising taxes or introducing new ones to<br \/>\nincrease revenues.<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* Government delays collecting tax, &#8220;weighing options&#8221; * Ghana looking to capitalise on soaring gold prices * Worries tax could do more harm than good By Kwasi Kpodo ACCRA, Sept 11 (Reuters) &#8211; Ghana has delayed implementing a windfall tax on mining profits while it considers whether to scrap the proposed levy, the head of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-14495","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=14495"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/14495\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=14495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=14495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=14495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}