Published On: Thu, Mar 2nd, 2017

Gold Fields emerges Ghana’s biggest taxpayer

goldfields 1ACCRA, (CAJ News) – GOLD Fields Ghana reported it had been the West African ountry’s nation’s largest corporate taxpayer in 2016 after contributing GHS355 million US$75m) directly through royalty and corporate income tax payments.
It quoted statistics from the Ghana Revenue Authority (GRA).
Gold Fields contributed, and an additional GHS146m (US$31 million) through mployees’ Pay As You Earn (PAYE), as well as tax payments on behalf of its local contractors and suppliers. During 2015 GFGL was the country’s second largest taxpayer.
Gold Fields’ Executive Vice President for West Africa, Alfred Baku, said this confirmed the mining sector’s contribution in general, and Gold Fields’ in particular, to Ghana’s economy and development.
“By creating a stable business environment, government enables businesses to expand, which in turn provide significant returns to the state via taxes and royalties.”
He mentioned that the company’s contribution extends beyond the statutory payment of taxes and royalties, to include employment, infrastructure provision, and investment in sustainable community development.
CAJ News

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