Government reviewing VAT on mining exploration – Lands and Natural Resources Minister

The government is reviewing the Value Added Tax (VAT) component of the tax burden on exploration costs for mining companies, according to Lands and Natural Resources Minister Samuel Abu Jinapor.

This move aims to reduce the tax burden, attract foreign investment, and create a conducive environment for exploring new mineral deposits.

The initiative is part of efforts to unlock Ghana's mineral wealth, create employment opportunities, and stimulate economic growth.

The announcement was made at the 2024 West African Mining and Power Conference and Exhibition, which aims to drive sustainable investment opportunities in the region.