The government has presented the Growth and Sustainability Levy (Amendment) Bill, 2026, to Parliament, proposing a reduction in the tax burden on gold mining companies from 3% of gross production to 1%. The measure aims to ease financial pressure on mining firms following the introduction of the Minerals and Mining Royalty Regulations, 2025.
The existing Legislative Instrument introduces a sliding-scale royalty system, allowing royalty rates to adjust with fluctuations in international gold prices. While designed to ensure higher revenue for the state during periods of strong market prices, the new framework has raised concerns among opposition lawmakers.
The Minority Caucus warned that the proposed adjustments could jeopardize employment in the sector, potentially costing up to one million jobs, and could make Ghana less appealing to foreign investors.
In defense, government officials explained that the levy reduction is intended to offset the potential financial strain imposed by the new royalty regulations, ensuring that mining companies remain operational and competitive.
The bill now awaits parliamentary deliberation, with debate expected to focus on balancing investor incentives with safeguarding jobs and revenue for the country.
