(VIDEO) Boamah Urges Government to Honour Promise to Mining Firms to Protect Businesses
Okaikwei Central MP warns delay in reducing mining levy could push companies to relocate and threaten jobs.
- Patrick Yaw Boamah urges government to reduce Growth and Stabilisation Levy from 3% to 1%.
- Says government had earlier promised tax relief to mining companies.
- Warns failure to act could lead to company exits, revenue loss and job cuts.
The Chairman of the Subsidiary Legislation Committee and Member of Parliament for Okaikwei Central Constituency, Patrick Yaw Boamah, has called on the government to fulfil its pledge to mining companies by reducing the Growth and Stabilisation Levy from three percent to one percent.
According to him, when the government introduced the new bill on mining royalties earlier this year, it assured mining companies that the levy would be reduced to ease their tax burden and help sustain their operations. However, he said the government has yet to implement the promised reduction.
Mr. Boamah warned that the delay in honouring the commitment could discourage mining companies operating in Ghana and push them to consider relocating to countries with more favourable tax regimes.
He explained that such a move could have serious economic consequences, including loss of revenue to the state and job losses for Ghanaians.
The MP made these remarks during a press conference held at the Parliament of Ghana.
