The Ghana Chamber of Mines has rejected claims by the Institute of Economic Affairs that Ghana’s mining tax system is outdated. It described the “colonial relic” label as inaccurate and misleading. The Chamber explained that Ghana uses a mix of royalties and taxes, not just royalties alone. These include royalties of 5%–12%, a 1% Growth and Sustainability Levy, and a 35% corporate tax. It also highlighted government earnings from a 10% stake in mining companies.
According to the Chamber, this system pushes Ghana’s effective tax rate close to 60%, among the highest globally. However, it warned that multiple taxes on revenue could hurt competitiveness over time. The group called for balanced reforms to protect investment while maintaining national benefits.
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