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Newmont Ghana pays GH¢73m as second quarter 2013 tax payment

miningNewmont Ghana (Ahafo Mine) has announced the payment of GH¢73,229,446(US$ 37,800,199) to the Large Taxpayer Office of the Ghana Revenue Authority (GRA).

The amount represents Corporate Income Tax of GH¢49,813,472 (25,593,933), Mineral Royalty of GH¢12,387,599 (US$6,430,652), Withholding Tax (WHT) of GH¢3,116,175 (US$1,626,816) and Pay As You Earn (PAYE) of GH¢7,912,199 (US$4,148,799).

For the first six months of 2013, Newmont Ghana paid total taxes of GH¢152M ($79M). Since Newmont Ghana began production in July 2006, it has made a total tax payment of GH¢904M (US$563M)to the GRA.

In its host communities of Ahafo and Akyem, NewmontGhana has also made contributions including the establishment of the Newmont’s Agricultural Improvement and Land Access Programme (AILAP).

Under AILAP in the Ahafo mine area, the company supported over 5,400affected farmers to restart farming. Farmers are assisted through a number of interventions including the acquisition of land, provision of farm inputs such as seedlings and fertilizers and agricultural extension support from our partners, the Ministry of Food & Agriculture.

In Akyem Project area, Newmont Ghana has assisted over 1,400 farmers in 11 communities with inputs such as seedlings, fertilizers and agricultural extension support. So far, we have spent over US$21million on AILAP in Ahafo and Akyem.

AILAP has remained successful with support from its partners, including the Ministry of Food and Agriculture (MOFA), Project Affected Persons (PAPs), Land Access Review Committee, Opportunities Industrialization Centres International (OICI), Asutifi District Assembly, Birim North DistrictAssembly and local Chiefs.

Newmont expressed its appreciation to its employees, contractors and other stakeholders for their contributions towards this achievement.

Source: Joy Business

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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