Executives of leading mining company, Gold Fields, say businesses and investors will appreciate stability in the country’s fiscal regime.
According to them, a stable fiscal regime helps with the effective running of businesses.
Different stakeholders have for some time now been raising issues with the trend of policy inconsistencies from the government especially when it comes to taxation.
Since 2017 till date, the government has made major U-turns in connection with some key policy proposals, including the mandatory towing levy, the luxury vehicle levy, and the benchmark values discount policy, among others.
Currently, government is embarking on a sensitization campaign on the controversial E-Levy after major pushback from different quarters.
The trend of policy announcements and withdrawals has led to calls on government to do more comprehensive engagements with all relevant stakeholders on future policies to ensure widespread acceptance going forward.
Answering a question on the tax regime in the mining sector, Acting Executive Vice President and Head of Gold Fields in West Africa, Joshua Mortoti, said Ghana will attract more investors with a stable and clear fiscal regime.
“I think what any investor wants is stability in the fiscal regime. No investor who makes an investment decision wants 6 months down the line to have a drastic change in the fiscal regime that he used to justify or not his investment. So what we look out for is not a free ride, but a stable ride. I’m just advising that as a country looking for investment, it behoves on us to ensure that our fiscal regime is clear and stable for investments to be made.”