Ghana increases tax on mining companies to ensure fair share of natural resources

Finance Minister Dr. Cassiel Ato Forson has defended the tax increase on mining companies in the 2025 budget. He stated that this decision ensures a fair contribution from the sector.

The Growth & Sustainability Levy on mining companies has risen from 1% to 3%. Dr. Forson noted that gold mining companies are making significant profits. It is only right for them to contribute more to Ghana's development.

In a statement on April 3, 2025, he emphasized that the new tax structure would ensure mining companies pay their fair share. This will help fund public services and national development.

“Mining companies make significant profits, and it is only right that they contribute more,” he reiterated in his statement.

Dr. Forson also outlined the broader economic agenda in the 2025 budget. This includes measures to ease financial burdens and improve public services. He aims for disciplined economic management focused on sustainable growth.

Additionally, he highlighted new laws signed by President John Mahama. These include repealing the Electronic Transfer Levy (E-Levy) and increasing funding for social programs. Tax reforms are also part of this effort to boost economic growth.

Dr. Forson stressed the need for stricter financial discipline. He believes this will strengthen Ghana's fiscal management and benefit citizens long-term.

The government’s new fiscal policies aim to balance contributions from profitable sectors like mining with sustainable economic development for the country.