Ghanas Mining Fiscal Regime: H1 2014

Published: Apr, 2014 | Pages: 14 | Publisher: Timetric
Industry: Mining | Report Format: Electronic (PDF)

Synopsis
Timetric's Ghana fiscal regime report outlines governing bodies, governing laws, rights and licenses, and key fiscal terms covering three commodities: bauxite, gold and manganese.

Summary
The mining industry is regulated by the Minerals and Mining Act 2006. Ghana's mining industry is managed by the Ministry of Land and Resources and Environment Protection Agency. The Minerals Commission is also involved in the coordination and implementation of mining policy.
Scope
The report outlines Ghana's governing bodies, governing laws, rights and licenses, key fiscal terms which includes Royalty, Corporate Income Tax, Depreciation, Gift Tax, Rent Tax, Capital Gains Tax, Loss Carry Forward, Withholding Tax and VAT.
Reason To Buy
To get an overview of Ghana's mining fiscal regime.
Key Highlights
The mining industry is regulated by the Minerals and Mining Act 2006. Ghana's mining industry is managed by the Ministry of Land and Resources and Environment Protection Agency.
The Minerals Commission is also involved in the coordination and implementation of mining policy.
The Ministry of Land and Natural Resources is responsible for managing country's land, forest, wildlife and mineral resources. The functions of the ministry include policy formation, co-ordination, monitoring and evaluation, and the validation of policies and projects. The ministry supervises the departments and agencies working under it, and negotiates with development partners.
The Environment Protection Agency is responsible for the protection and improvement of the country's environment. The agency aims to create awareness of the environment at a community level. It has offices across the country and regularly inspects and regulates mining activities.

 1 Executive Summary 1
2 The Ghaian Mining Industry - Governing Bodies 5
2.1 Ministry of Land and Resources 5
2.2 Environmental Protection Agency 5
2.3 Minerals Commission 5
2.4 Geological Survey Department (GSD) 5
3 The Ghaian Mining Industry - Governing Laws 6
3.1 Minerals and Mining Act, 2006 6
3.2 Diamond Act 1972 6
3.3 Small-Scale Mining Act 1989 6
4 The Ghaian Mining Industry - Rights and Licenses 7
4.1 Mineral Rights 7
4.2 Reconissance License 7
4.3 Prospecting License 7
4.4 Mining lease 7
5 The Ghaian Mining Industry - Key Fiscal Terms 8
5.1 Royalty 8
5.2 Corporate Income Tax 8
5.3 Depreciation 8
5.4 Gift Tax 8
5.5 Rent Tax 8
5.6 Capital Gains Tax 8
5.7 Loss Carry Forward 8
5.8 Withholding Tax 8
5.9 Value Added Tax 8
6 Appendix 9
6.1 What is this Report About? 9
6.2 Methodology 9
6.3 Secondary Research 9
6.4 Primary Research 10
6.5 Contact Timetric 10
6.6 About Timetric 10
6.7 Timetric's Services 11
6.8 Disclaimer 12


List of Tables
Table 1: The Mining Industry in Gha - Fiscal Regime Terms and Other Taxes 1
Table 2: The Mining Industry in Gha - Withholding Tax Rates (%), 2014 8