- Ghana has abolished the 15% VAT on mineral exploration to attract more investment and boost the mining sector.
- The policy targets high-risk, early-stage exploration activities such as drilling, surveys, and lab work, which are sensitive to tax burdens.
- The VAT had been in place for about 25 years and was seen as a major barrier to new mine development and competitiveness.
- The reform was driven by industry advocacy, regional competition, and the need to stimulate greenfield mining projects.
- The change aligns Ghana with other West African countries, making it more attractive to multinational exploration companies.
Source: discoveryalert.com.au
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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