Newmont Ghana pays GH¢78m 2013 first quarter tax to Government

On May 7, 2013

Newmont Ghana (Ahafo Mine) has announced the payment of GH¢78,191,762 (US$41,858,812) to Government as its first quarter tax payment for 2013.

A release to the GNA said the amount paid through the Ghana Revenue Authority (GRA), represents Corporate Income Tax of GH¢57,476,207 ($30,298,475), Mineral Royalty of GH¢10,865,669 ($5,767,710), Withholding Tax (WHT) of GH¢3,557,596.69 ($1,891,190) and Pay As You Earn (PAYE) of GH¢6,292,289 ($3,901,437).

It said in 2012, Newmont Ghana paid a total of GH¢330,531,038 ($180,568,902) as its tax obligation to the Government of Ghana and it has to date made total tax payments of GH¢830,441,009 ($525,233,938) to the GRA since it begun production in July 2006.

The release said Newmont Ghana has also made significant contributions in the Ahafo and Akyem communities and that in 2008, the company set up the Newmont Ahafo Development Foundation (NADeF) to fund community initiative development and by 2012, the fund had accrued approximately $12million.

It said NADeF has funded the execution of community libraries, teachers’ quarters, water system facilities, micro-credit scheme and awarded scholarships worth GH¢3.6million to 3,700 students.

The release said in Akyem, Newmont Ghana through its Influx Management Programme has also undertaken significant community interventions including training over 2,536 community/group members.

These community members, it said, have been trained in environmental sanitation/hygiene with emphasis on malaria and cholera infection to reduce water and sanitation-related illnesses.

Additionally, the company has trained more than 1,500 community/group members in the mode of transmission, symptoms, impact and prevention HIV/AIDS and other sexually transmitted infections (STIs) to increase awareness of prevention and disease epidemiology.

The release said Newmont Ghana has also instituted a four-year Apprenticeship Programme in Akyem to provide local youth with the relevant skills tailored to its operational needs.

The Apprenticeship Programme, it said, has enrolled 184 students from host communities with 55 graduates currently employed as equipment operators.

Source: GNA