"Q1 2023: Newmont pays GHS 800m in taxes to Government"

" Q1 2023: Newmont pays GHS 800m in taxes to Government \r\n\r\nNewmont Africa has announced that, in the first quarter of 2023, its Ghana operations (Ahafo South and Akyem mines) paid a total of \u00a2843.72 million in taxes, royalties, and levies to the Government of Ghana, through the Ghana Revenue Authority (GRA), Forestry Commission, and Ministry of Finance.\r\n\r\nThis amount is broken down into Corporate Tax of \u00a2514.57 million; Minerals Royalties of \u00a2197.06 million: \u00a2 78.23 as Pay As You Earn (PAYE); \u00a242.31 as Withholding Tax; and \u00a211.55 million as Forestry Levy.\r\n\r\n\u201cFulfilling our obligations in terms of statutory payments, and being transparent about what we pay, are in line with our commitment to regulatory compliance and good corporate governance,\u201d said David Thornton, Regional Senior Vice President, Newmont Africa Operations.\r\n\r\nNewmont Africa\u2019s operations in Ghana have a strong tax compliance history and received multiple taxpayer recognitions from the Ghana Revenue Authority.\r\n\r\n\u201cIt is important, especially in these challenging times, for companies to honour their obligations to the state, as well to their various stakeholders, through direct payment of their taxes and investment in social programmes,\u201d he added.\r\n\r\nApart from the taxes, royalties, and levies that go directly to government towards the growth and stabilization of the economy, Newmont Africa also focuses on stimulating economic development in the local communities that host the mining operations, through a range of programs and projects that deliver measurable outcomes.\r\n\r\nAcknowledging the key role that road infrastructure plays, particularly in farming communities, Newmont Africa\u2019s operations in Akyem and Ahafo have both funded critical road infrastructure, working through the Ministry of Roads and Highways.\r\n\r\nThe mines\u2019 investment in skills acquisition and sustainable livelihood programmes also ensure that local community residents are equipped with employable skills that are needed in the extractive and construction industries."

"Q1 2023: Newmont pays GHS 800m in taxes to Government"

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