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Gold Fields yields US$ 26,544,000 in
tax payment
Accra, July 9, Ghanadot/GNA - Goldfields
Ghana Limited, operators of Damang and Tarkwa goldmines both
in the Western Region on Wednesday presented a cheque for
26,544,000 dollars to the government as its large tax
payment.
This brings to a total corporate tax payment of
approximately US$80 million on the company’s two mines to
the government since 2005.
Speaking at the presentation, Mr. Johan Botha, Managing
Director of the Gold Fields Ghana Limited said combined with
the payment of royalties which was also $80 million and
other Pay-as-You Earn settlements to the government, Gold
Fields had paid over US$200 million in direct taxes since
2001.
He noted that on the average, the company contributed 12
percent of the nation’s total foreign exchange earning and
over 35 percent of total foreign exchange from gold exports.
As part of its social responsibility, Mr. Botha said the
company had established a Trust Fund from which money were
generated for the development of the towns in which the two
mines operated.
“Funding is based directly on production and profitability
through a yearly contribution of U$1.00 of every ounce
produced plus 0.5 percent of pre tax profit.
“This contributes over one million US dollars a year for
social investment”, he added.
The Managing Director said Gold Fields remained a committed
corporate entity and would continue to play a key role in
the socio economic development of the country.
Receiving the cheque, Ms. Comfort Boohene-Osafo, Director,
Large Tax Payer Unit of the Revenue Agencies Governing Board
expressed her gratitude to Gold Fields and called on other
corporate organizations to also do the same for the
development of the country.
GNA
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