I’ll reduce mining export tax to 1% under my presidency to curb gold smuggling – Bawumia

Dr. Mahamudu Bawumia, the NPP flagbearer for the 2024 elections, has pledged to reduce Ghana's mining export tax to 1% if elected.

Speaking on August 8, 2024, he argued that this reduction would discourage gold smuggling by making legal export more attractive.

This policy aims to boost gold production for domestic refining and support his "gold for oil" and "gold for reserves" programs, which are designed to stabilize Ghana's currency and enhance its financial resilience.

Bawumia cited previous tax cuts that successfully curbed smuggling and increased gold export volumes as evidence for the policy's potential effectiveness.

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