The Chief Executive Officer of the Ghana Chamber of Mines, Ahmed Dasana Nantogmah, has criticized the government’s approach to the taxation of the mining sector, warning that it risks discouraging investment and undermining struggling companies.
His criticism follows the government’s decision to impose a standard tax policy on all mining firms in Ghana, regardless of size, age, or profitability.
Speaking on JoyNews on Thursday, May 22, Mr. Nantogmah highlighted the diverse conditions in which mining companies operate, noting that it is unfair to treat all the firms equally.
“You have to look at them according to their specific position. Is it a new mine? Has it just started? Is it a mature mine? Is it a declining mine?” He stated
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He emphasized that compliance with tax laws does not necessarily translate to profitability, noting that many companies are paying taxes despite experiencing significant financial difficulties.
He further pointed out that some firms comply with tax regulations simply because they do not have special arrangements or exemptions with the government.
“It might be affecting them, but they have to be responsible companies by paying the taxes and engaging the tax man.” He explained
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Mr. Nantogmah emphasized the importance of collaboration and called for open and honest dialogue between the government and mining companies.
“Let’s sit down with these companies, understand their particular situations and see how you can even help them… Maybe stagger it, or maybe reduce it for this one.” He added
