The Ghana Chamber of Mines has called for the complete removal of the Growth and Sustainability Levy (GSL) on mining companies, arguing that the current fiscal regime is placing excessive pressure on the sector.
In a statement issued on April 20, 2026, the Chamber said that although the recent reduction of the levy from 3 percent to 1 percent is a step in the right direction, it does not go far enough to ease the cumulative tax burden on mining firms.
“The adjustment of the GSL from 3% to 1%, while directionally appropriate, is inadequate to offset the cumulative burden imposed by the current fiscal structure,” the Chamber stated.
It explained that both the GSL and mineral royalties are applied on gross revenue, making them cost-insensitive and particularly burdensome for high-cost and marginal mining operations.
“Both royalties and the GSL are levied on gross revenue and are cost-insensitive, thereby compounding the pressure on mining operations, particularly for high-cost, mature, or marginal mines,” the statement noted.
The Chamber warned that maintaining multiple overlapping revenue-based taxes could weaken Ghana’s competitiveness in the global mining industry and ultimately affect long-term government revenue.
“International experience demonstrates that excessive reliance on overlapping revenue-based instruments can undermine the mining sector’s competitiveness and reduce government revenue in the long term,” it added.
It therefore urged government to go beyond the current adjustment and undertake broader fiscal reforms to sustain investment in the sector.
“Accordingly, the recent adjustment in the GSL should not be interpreted as a ‘dilution of government revenue objectives’, but as a partial and necessary step toward fiscal optimisation. However, it is not enough; the 1% GSL should be reduced to zero,” the Chamber stressed.
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