The establishment of a Gold Assay Centre at the Kotoka International Airport (KIA) has helped the government to prevent GH¢ 14.1 million tax evasion from gold export. The Centre, since its establishment in July 2016, has seen 13,492,03.70 ounces of gold weighed and validated and valued at almost US$19 million.
Hon.Kwaku Asomah-Cheremeh, the Minister of Lands and Natural Resources disclosed this when he took his turn at the Meet-the-Press series at the Information Ministry in Accra. The Meet-the-Press series provides a platform for sector Ministers to update the public on various interventions and initiatives implemented by their ministries and to answer questions from the media.
“Total tax revenue accruing to the government from the assay over the period amounted to GH¢ 14.1 million. Without the assay process, this would have been lost,” the Minister, pointed out. He observed that production companies exported gold over the years without independent confirmation of the actual volumes and grades of the mineral.
Therefore, the Ministry established a gold assay centre at the KIA to properly track (weigh, test, value and certify) actual volumes and grades of gold being exported.
“I am pleased to say that as it stands today, gold exported out of the country passes through the assay process for validation of the actual value,” he added. The Gold Assay Centre at the KIA generates taxes and fees for gold validated before export.
Read more from the speech MEET-PRESS-2020-MLNR.pdf