Newmont Ghana pays GH¢77M as first quarter tax payment
05/21/2014Contributed GH¢303M to 2013 government tax revenue
Accra, 21st May, 2014 – We are pleased to announce that Newmont Ghana (Ahafo and Akyem operations) paid a total of GH¢76,783,341 (US$30,766,933) for the first quarter (January – March) 2014, to the Government of Ghana through the Ghana Revenue Authority (GRA).
This amount represents the Corporate Income Tax of GH¢30,573,980 (US$11,526,477), Mineral Royalty of GH¢25,382,814 (US$10,279,055), Withholding Tax (WHT) of GH¢9,090,657 (US$3,841,521) and Pay As You Earn Tax of GH¢11,735,890 (US$ 5,119,880).
In 2013, Newmont Ghana contributed GH¢302,984,925 (US$153,764,009) to the government tax revenue. The Ahafo operations contributed GH¢269,411,902 (US$136,873,687) out of the total amount while the Akyem operation contributed GH¢33,573,023 (US$16,890,322) within this period.
This brings to date, total tax payments of GH¢1,162,393,740 (US$686,845,941) by Newmont Ghana to the GRA since it started production in 2006.
Newmont Ahafo Foundation (NADeF) together as at year end 2013, had accrued GH¢30M (US$17.6M). NADeF has also funded the execution of the only Nursing college in the Brong Ahafo Region of Ghana, the Ntotroso College of Nursing, community’ libraries, teachers’ quarters, a water system facility, a micro-credit scheme and awarded scholarships worth GHc5M. to 4,487 students.
In Akyem, we have taken significant community development projects including the following:
- Health - Hospital wards, operating theatre, reliable power, doctors and nurses accommodation.
- Water - Modern water storage and distribution infrastructure including administration facilities.
- Education - Schools, class-rooms, male and female dormitories, male and female toilets, vocational college.
- Environment - Community Land-Fill – modern waste collection and handling facility.
- Security - Community policing infrastructure.
We thank all employees, contractors and other stakeholders for their contributions towards this achievement.