Parliament has passed the Growth and Sustainability Levy (Amendment) Bill, 2026, which seeks to reduce the tax on gold mining companies from 3 percent of gross production to 1 percent.
The move forms part of efforts to cushion gold mining firms following the introduction of the Minerals and Mining Royalty Regulations, 2025.
The Legislative Instrument establishes a sliding-scale framework that allows royalty rates to be adjusted in response to fluctuations in international market prices, enabling the state to earn more during periods of high commodity prices.
However, the Minority Caucus has raised concerns that the new L.I. could cost Ghana up to one million jobs and make the mining sector less attractive to investors.
In response to these concerns, Deputy Finance Minister Thomas Nyarko Ampem noted that the reduction in the Growth and Sustainability Levy is intended to mitigate the potential impact of the Minerals and Mining Royalty Regulations on mining companies.
“We don’t make laws to suit individuals. We are bringing this change so that Ghana can take maximum advantage of its natural resources. We all know that we have been blessed with gold.
“Over the years, we haven’t taken enough advantage of this resource. This arrangement will make it fair to mining companies, and it will also make it fair to Ghanaians who are the owners of this natural resource,” he said.