Parliament amends Growth and Sustainability Levy, raises gold mining tax to 3% 

Parliament has passed the Growth and Sustainability Levy Amendment Bill 2025. This bill increases the levy on gold mining companies from one to three percent of gross production.

The amendment also extends the levy’s application period to 2028.

Dr. Cassiel Ato Forson, the Minister of Finance, spoke during the debate. He emphasized that the government should leverage rising gold prices. This will help boost revenue for national development.

Mr. Alexander Afenyo-Markin, the Minority Leader, opposed the bill. He warned that the tax hike could harm the private sector, especially in mining.

“This tax increase will negatively impact the private sector,” he said. “The mining industry is already struggling.”

Despite these objections, a majority voted to approve the bill. The amendment is expected to generate more revenue for the government. This comes as it seeks to improve its finances amid economic challenges.

The Growth and Sustainability Levy was introduced in 2023. It replaced the National Fiscal Stabilisation Levy to raise funds for national development and social protection.

The levy applies to specified entities, including gold mining companies. It ranges from one to five percent of their profit before tax or gross production.