REDUCED CORPORATE INCOME TAX (CIT) RATES FOR MINERAL OPERATIONS ONLY SUBJECT TO WRITTEN AGREEMENT RATIFIED BY PARLIAMENT
Brief Description
Corporate tax rates are presently 25%. Although the chargeable income tax rate applicable to company income from mineral operations is 35%, companies that have stability or
investment agreement with government pays a reduced rate as per the agreement terms
Criteria
Signed stability or investment agreement with the Government of Ghana (GOG) allowing
a provision in the stability agreement to freeze and reduce the tax rate as per the agreement terms. An application is made to the Minerals Commission for a stability or investment agreement - and it is sent Parliament for approval and ratification in order for it to be
binding in accordance with Article 174(2) of the Constitution (No taxation waived or varied
without the prior approval of Parliament by resolution)
