Budget Statement and Economic Policy of Ghana proposes a significant amendment to the Minerals Income Investment Fund (MIIF) Act, 2018 (Act 978).
The article from GhanaWeb discusses the implications of the 2025 Budget proposal on Ghana's mineral revenue management. It highlights the government's intention to increase revenue from the mining sector to support economic growth and development. Key points include the introduction of new fiscal policies aimed at enhancing transparency and efficiency in mineral revenue collection. The budget proposes adjustments to royalty rates, corporate taxes, and the implementation of stricter regulations to curb illicit financial flows and tax evasion in the mining industry. Additionally, there is a focus on community development, with plans to allocate a portion of mineral revenues towards local infrastructure and environmental sustainability. The article also touches on the potential challenges, such as the need for robust enforcement mechanisms and the risk of deterring foreign investment due to increased taxation. Overall, the budget aims to balance revenue generation with sustainable development and equitable benefit sharing from Ghana's mineral wealth.
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Fri, March 14, 2025
