The Ghana National Association of Small Scale Miners (GNASSM) has told Citi Business News the introduction of the 10 percent withholding tax on small-scale and artisanal miners has triggered smuggling of minerals to Ivory Coast and Togo from Ghana.<\/p>\n
According to the association, the withholding tax charged on small-scale and artisanal miners in Ivory Coast and Togo is low.<\/p>\n
[contextly_sidebar id=”YeNl2Ab5BjPEuolo0ElDjZU0kfHi862T”]Following the implementation of the new income tax law small-scale and artisanal miners will now pay 10 percent withholding tax.<\/p>\n
But in an interview with Citi Business News the Public Relations Officer of the Ghana National Association of Small Scale Miners Francis Opoku called for a reduction in the tax which if not heeded to could trigger a nationwide demonstration.<\/p>\n
\u201cApart from we losing the government also stands to lose, this is because a lot of people have started smuggling. The Indians, some of them have license to buy and now they have seen that if they are able to take the gold to Togo or Ivory Coast the tax over there is less and as the government has plans to rake in huge revenues that vision will be missed because a lot of the gold will be smuggled out, as their tax is 5%.\u201d<\/p>\n
‘We have petitioned government and all the relevant stakeholders including the minerals commission and if we don\u2019t hear anything as we wait to have positive response from them, then we will set into motion what our members in ten different districts are asking for that is begin series of demonstrations until our demands are met’. Public Relations Officer of the Ghana National Association of Small Scale Miners Francis Opoku added.<\/p>\n
Earnings from the 10 percent tax according to government is also to compensate for losses the country currently incurs through operations of small scale miners as a result of non-payment of royalties and other tax revenues.<\/p>\n
–<\/p>\n
By:\u00a0 Norvan Acquah – Hayford\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"
The Ghana National Association of Small Scale Miners (GNASSM) has told Citi Business News the introduction of the 10 percent withholding tax on small-scale and artisanal miners has triggered smuggling of minerals to Ivory Coast and Togo from Ghana. According to the association, the withholding tax charged on small-scale and artisanal miners in Ivory Coast […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171],"tags":[],"yoast_head":"\n