GOLD TRADE FINANCE SOLUTIONS

Our Foreign trade partner provides Banking instrument to ease trade and investment in Gold; Such as Letter of Credit (LC) or Standby Letter of credit (SBLC), Bank Guarantee (BG) and Documentary Letter of credit (DLC) 
http://www.ghanagoldagents.net
Cash and Gold Balance
Buying GOLD via CIF has been made easy by our Foreign Trade partner for all gold buyers who need financial bridge for gold, through financial instruments for 100% CIF 
Our Foreign trade associates provides instrument for trade and investment such as: Facilitate foreign short and long term Loan, Facilitate financial instruments for trading and projects, DLC, BG, and SBLC etc.
We collaborate with the following financial Institution as the bank instrument Issuers:
Suisse Credit Bancorp CIBC (HK) Limited
Suisse Credit Capital
Dubai Bank of Kenya
General Equity Building Society (Private Banking)
A local Ghanaian Term Trade instruments institution shall provide guidance as the facilitator of the Banking Instrument.
Read Also: CIF Shipment to Buyers who can not come to Ghana for the prior meeting...

Gold Repossession Services in Ghana.

http://www.ghanagoldagents.net
 We offer a robust and fast Gold Repossession services for those who may have experienced incidence of non-shipment of your gold after you have made partial payment or full payment for the gold. 
We try as much as possible to trace and recover your gold, then ship the gold to your chosen destination.


 Whatever the dispute we can assist.

We also help in the shipment of inheritance gold, if your Ghanaian friend, fiancé or spouse has inherited gold and need to sell or ship the gold before he/she can travel to join you, we can help you to either sell the gold locally here in Ghana or ship the gold to your chosen destination.
 For Inheritance Gold!
Your Satisfaction is guaranteed.

3% tax on small scale gold exports begin

The Ghana Revenue Authority (GRA) will soon commence the implementation of a three percent withholding tax on the export value on all gold exports from the country.
This means that at the point of export, individuals who purchase gold from unlicensed, small scale and artisanal miners are to provide evidence of payment of the appropriate taxes before the gold can be exported.
This is expected to be implemented from the second quarter of this year. The move is to enable the Authority receive the appropriate taxes from all gold exports, which the GRA claims has been a problematic area in terms of revenue collection.
In 2016, the Authority imposed a 10 percent withholding tax on small scale mining in a bid to increase domestic revenue mobilization and getting members in the sector to pay the appropriate taxes under the revised Income Tax Act, 2015 (Act 896).
This directive failed to work. Subsequently, it was reviewed downward to seven percent and finally three percent after a series of meetings between regulators and operators in the sector.
However, the Authority has still found it increasingly difficult getting small scale and artisanal miners to pay the withholding tax despite the downward adjustment of the levy.
Speaking during a seminar organized by the Institute of Directors (IoD) Ghana, the Deputy Commissioner, Policy and Programmes of the GRA, Mr. Nathan Nettey said the enforcement of the directive at the point of export was important as a number of small-scale miners export the commodity from the country, but have since failed to pay the appropriate taxes and royalties to the state.
“The modalities of how this is going to be carried out will soon be known so that people will know what they need to do with regards to the export of gold”, Mr. Nettey reiterated.
Background
A recent assessment of trade data on gold export between Ghana and its three major partners namely India, United Arab Emirates (UAE) and Switzerland revealed that over US$9 billion worth of gold exports remain unaccounted for.
For instance, Ghana’s official export data for gold trading with Switzerland amounted to a little over US$3 billion. However, Switzerland’s gold import figures with Ghana revealed that they had imported more than US$7 billion worth of gold, this being more than double the total export revenue recorded by Ghana.
Additionally, UAE recently recorded US$7 billion worth of gold imports from Ghana, but Ghana’s official data for export to UAE showed just US$2 billion.
It is expected that the disparities in the figures would have risen significantly if all exports and imports data between Ghana and the countries that buy gold were to be examined.
By Dundas Whigham
Source: Goldstreetbusiness.com      |  Date: 06-02-2019 Time: 11:02:25:am

Ghana becomes Africa’s top gold producer

Ghana has become the largest gold producer in Africa, toppling South Africa in a recent data released by the World Bank.

The data copied to the media said Ghana exported 158 tonnes of gold in 2018, about 15 percent increase over the previous year.

Ghana has thus dethroned South Africa, which produced 139.3 tonnes and returned to the high volumes of the 1980s.

It said mining firms operating in the country include Newmont Mining Corporation, Gold Fields, Anglogold Ashanti and Asanko Gold.

It noted rural communities in four regions of Ghana currently affected by the environmental damage and pollution associated with destructive artisanal mining and logging practices are to benefit from a scale-up of the Ghana Forest Investment Program.

The World Bank approved this week an additional financing of US$19.39 million to the programme.

The programme is already implementing activities focusing on agricultural drivers of deforestation by working with cocoa farmers and communities to rehabilitate and protect forest reserves.

The additional financing operation aims at complementing these activities by piloting approaches to and benefits of reclamation of mining sites, which will reduce erosion currently polluting public watercourses and engage the private sector in plantation development to reduce pressure on natural forests.

China tops the global pact followed by Australia, Russia and the United States of America.

Source: Goldstreetbusiness.com