Minerals Income Investment Fund Act, 2018 ACT 978

Section 35: The mineral income paid to the Fund and the dividend payable by the Fund or a Special Purpose Vehicle are not taxable

Procedures to Follow

1. The Mining Companies pay the royalties directly into Minerals Income Investment Fund (MIIF)

2. MIIF disburses twenty percent (20%) of the royalties into the Minerals Development Fund (MDF).
3. Pursuant to the Minerals Development Fund Act, 2016 (Act 912), fifty percent (50%) of mineral royalties received by MDF, (which is actually 10 percent of the total mineral royalties paid by the Mining Companies to MIIF) is transferred to OASL for onward disbursement to the beneficiaries in accordance with section 7 of the OASL Act, (Act 481).

Responsible Institution

Minerals Commission

36 Second Cantonments Cl, Accra

Relevant Forms to Download

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Fees / Charges

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