ACEP reveals 95% of small scale miners never receive tax certificate after payments
The implementation of a 3% withholding tax by the Ghana Revenue Authority (GRA)has been unsuccessful, according to a study by the Africa Centre for Energy Policy (ACEP).
It said the report shows that 95% of small scale miners sampled said they never received tax certificate for 3% withholdings payments to gold buyers.
This comes on the heels of a leaked document from the Precious Minerals Marketing Company (PMMC) revealing that since the introduction of the 3% withholding, the purchase and export of gold has witnessed a downward dive.
The Company has complained to the Finance Ministry over the 3% withholding tax on gold trade.
It argued that the withholding tax on gold purchase has become a major issue of concern among its stakeholders including foreign and local gold buyers who patronize their laboratory.
