The Small Scale Mining Association is asking government to review the 3% withholding tax on gold export which has led to a surge in smuggling of gold outside the country.
General Secretary of the Association, Godwin Armah said if this is not checked, it will make the country lose revenue.
Mr. Armah stated this when the Minister of Lands and Natural Resources, Samuel Jinapor met with the Association at Dunkwa-On- Offin in the Central Region.
He said the intense smuggling of the precious metal is a source of worry to the Association, adding that the 3% withholding tax compared to others in the sub region is high, hence the smuggling of the commodity to other countries.
Mr. Armah called on the Ministry to also look at the licensing regime and the cumbersome processes involved, including delay in renewing expired licenses of members.
General Secretary of the Small Scale Mining Association said they will continue to assist government to win the fight against illegal mining which also affects their operations.
The Sector Minister, Samuel Jinapor said the Lands and Natural Resources Ministry has engaged the Ministry of Finance on the 3 percent withholding tax on the sale of gold.
He said the cumbersome nature of the renewal of licenses is not a guarantee to perpetuate the illegality of smuggling gold outside the country.
