Comprehensive  Ghana Oil and Gas news, information, updates, analysis


News in Brief

Mining, quarrying contribute $3bn to economy

MININGThe mining and quarrying sector in 2015 generated over $3.1billion in revenue to the country’s economy.

Of this amount a little over $465,000 was returned to Ghana through the Bank of Ghana as mandatory surrender. Mineral revenue returned to the country through commercial banks as voluntary repatriation was a little over $2.1 billion.

Of the total revenue accrued that is $3.1 billion, figures from the Ghana Revenue Authority shows $2.6 billion was returned to Ghana which comes up to 85 percent of the total revenue accrued.

 

 

The figures published by the Ghana Chamber Mines shows total fiscal payment from the $3.1 billion amounted to $377.3 million of which a little over $130 million went into mineral royalties, $124 million into corporate tax.

$108 million went into Employee Income Tax Payments (PAYE) while $234,000 went into other taxes, meanwhile dividends paid to the state amounted to US$13 million and property rate payments amounted to $978,000.

Share this article

Leave a reply

Personality of the Month
Follow Us Online
About Us
Reporting Oil and Gas project was launched on 4th June 2009 at Takoradi, Western Region, Ghana by Penplusbytes (www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector read more
Events Calendar
<< Jan 2018 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31 1 2 3 4
Twitter Activity Stream
 

Partners We are proud to be associated with:

Skip to toolbar