Gold Fields Ghana pays $157m in taxes, royalties in 2010
Gold Fields Ghana, has paid a total of $157 million in taxes to government in 2010.
The operators of the Tarkwa and Aboso Gold Mines, on Thursday paid $26.5 million as corporate tax to government.
Out of the amount, $20 million was paid in respect of the Tarkwa Mine, bringing the mine’s total tax paid for January to December to $55 million.
In the case of Aboso Mine, the payment of additional $6.5 million brings the total tax to $19 million for the same period.
Mr Martin Ahorney, Finance Manager of Gold Fields Ghana, said total payments to government, including corporate taxes, royalties, National Stabilisation Levy, dividends and Pay As you Earn amounted to more than $157 million from January to December.
He said the company would continue to play its role as a good corporate citizen to ensure significant contributions to the national development agenda.
Mr Ahorney pledged Gold Fields continuous collaboration with stakeholders, particularly the government, to harness the resources in its operational areas for the mutual benefit of the nation.
Dr Kwabena Duffuor, Minister of Finance and Economic Planning, said government was looking into all issues affecting the mining sector and would soon resolve them to ensure a level playing for companies operating in the field.
Source: GNA
Where did the money goes instead of keep borrowing money fro the world Bank, IMF and others. Leaving debts behind for generations to come and what sort of savings the country is gearing towards for future genrations as well as growth in the economy.