Ghana mineral exploration tax reform aims to boost sector investment

Ghana has announced a mining sector tax reform abolishing value-added tax (VAT) on mineral exploration and reconnaissance activities in a bid to attract greater investment. The move, revealed by the country’s Finance Minister, Cassiel Ato Forson, comes as Ghana, Africa’s leading bullion producer, seeks to reverse more than two decades of limited new mining development, reported Reuters. The 15% VAT was introduced 25 years ago as part of wider fiscal reforms, and was applied to exploration-related expense ...