Parliament approves Growth and Sustainability Levy increase on gold mining
The Growth and Sustainability Levy was introduced to generate revenue for national development, with gold mining companies initially taxed 1%, now increased to 3% until 2028
Parliament has passed the Growth and Sustainability Levy Amendment Bill 2025, raising the levy on gold mining companies from 1% to 3% of gross production.
The amendment also extends the levy’s enforcement period until 2028.
During the debate, Finance Minister Dr Cassiel Ato Forson justified the increase, stating that higher gold prices present an opportunity for the government to generate more revenue for national development.
However, Minority Leader Alexander Afenyo-Markin criticised the move, warning that the tax hike could negatively impact the private sector, particularly the extractive industry.
Despite objections from the Minority, the bill was passed by a majority vote.
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