Ghana raising corporate tax on miners to secure IMF funding

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2026

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

Ghana raising corporate tax on miners to secure IMF funding

ghana-flag.jpg

The Ghanaian government has indicated in a letter to IMF managing director Christine Lagarde that it expects to bring in as much as $165 million from the increased corporate tax rate on mining firms.

The letter – signed by finance minister Kwabena Duffuor and Central Bank Governor Kwasi Amissh-Arthur – outlines a number of policies being undertaken by Ghana as part of its attempts to secure funding from the IMF. More than $600 million could be granted to the country from the IMF’s Extended Credit Facility Program for Ghana.

The corporate tax rate on miners was increased from 25% to 35% in this year’s budget.

Fears that the increased rate will deter investment in the sector have been cast aside by government claims that the measures are necessary to bring in extra revenue.

more across site & shared bottom lb ros

More from across our site

Public country-by-country reporting is exposing multinational tax data to investors, journalists and competitors, creating fresh risks for businesses
Pillar two compliance is creating unprecedented data demands for multinational tax departments, making closer collaboration with FP&A teams essential for accurate reporting and audit readiness
Among the arrivals is Andrew Howell, who leaves scandal-hit PwC Australia after representing PepsiCo in a high-profile TP dispute
ITR's podcast examines whether the big four have overarching cultural issues and assesses the competitive threat of technology-backed transfer pricing firms
The UK advisory firm has seen its global revenues expand by £27.2m following its listing and acquisition of Baker Tilly South-East Europe
Tax-trained John Sams, previously the firm’s CFO and COO, was appointed after a rigorous process, KPMG said
From Mauritius substance rules to Kenyan SEP tax and South African anti-avoidance measures, businesses must navigate growing scrutiny of cross-border IP structures in Africa
ITR spoke to multinationals, advisers and software providers about a June 30 deadline defined by faulty portals, high compliance costs and hard lessons
After years of onerous pillar two prep, businesses will be galled in seeing tax revenues outweighed by compliance costs
Tax advisers should revisit India secondment arrangements after the EY US ruling strengthened the Centrica precedent and raised fresh withholding concerns
Gift this article