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.
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

Full Corporate Offer (F.C.O.) FOB via PMMC

PMMC Ghana
Gold available for sale through the Precious Minerals Marketing Company (PMMC) Ghana, from small Scale Local gold miners here in Ghana.
We offer bush price and we rely on PMMC to sell our gold. No upfront payment.
Republic of Ghana
Gold Bar
Clean, Clear, No Liens and Non-Criminal Origin
94.% purity
50 to 450 Kilos
USD or Local Currency
Full or Partial Payment after Assay at the PMMC refinery here in Accra Ghana. (Cash or Wire-Transfer)

Buyer is invited to come, inspect the product, and conduct Assay at any Government recognize Gold refinery or the PMMC refinery here in Ghana before payment.
 No upfront payment, and no upfront demand for paperwork via the Internet or Email.
During buyer's visit to Ghana, signing of the Sales/Purchase Agreement will take place after both parties have agreed the conditions and procedures.
 Full or Partial Payment after Assay at the PMMC refinery here in  Accra Ghana. (Cash or Wire-Transfer) as may be agreed between the buyer and the Seller.
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  • All gold Mandates, Agents, Brokers, representatives and all form of intermediaries are to refer their direct buyers to us.
  • There is no any form of commission payment from Seller side; moreover, we shall not engage any intermediaries or third parties in negotiation.

Gold Agents

Gold is a precious metal of high monetary value, sought after for producing coins, jewellery and other artifacts. Ghana is a major producer and exporter of gold as a major foreign exchange earner for its socio-economic development. Between 1989 to 2019, Ghana has produced over 1,290,000 ounces of gold, valued over $720.35 million. 
        In 1989 when the Ghana Government regularized small-scale gold mining operations in the entire country, it was estimated that about 60,000 to 80,000 ounces of gold previously produced by Small Scale miners were smuggled out Ghana yearly.
         In 2014, the total gold mined by small-scale miners was about 1.49 million ounces, which represent about 34.2 per cent of the total gold mined in Ghana.
          Largely, gold production in Ghana has fallen from 3.19 million ounces in 2013 to about 3.17 million ounces in 2014.
         The mining sector in Ghana contributed 16 percent of Ghana’s revenue, with gold as the second largest foreign exchange earner for the country; in 2014, Ghana officially produced a total of 4.4 million ounces of gold.

Consequently, gold revenue, which accounts for almost 98 per cent of the mineral revenue, declined from about $4.7 billion in 2013 to about $3.7 billion in 2014.

The complaint of Gold Shady deal from Ghana
The rate of complaint of the Gold con from Ghana because of upfront payment has greatly increased over the last two decades. These trends should not continue, all stakeholders in the gold business must come together to find a lasting solution to this menace.

Gold Agents should enter into the Gold Business in a Genuine and transparent way as Agent. Small-scale miners should appoint a recognized gold agent to act as their representative, in order to achieve their quest for foreign investors that can collaborate with them to procure mining equipment for their mining sites.    Unregistered small-scale miners should be discouraged from the direct sale to prospective foreign gold buyers; this is to discourage fraudsters from taking advantage of the System. Unregistered small-scale miners should be encouraged to register their company under the General Minerals Commission of Ghana and operating in the areas of Minerals and exporting.
prospective foreign gold buyers must desist from believing people who promise them Gold for the price Of Coffee. There is no Free Gold in Ghana. Please do not believe that you can get free gold from Ghana, it is never true. You will lose that money to dishonest-people. Many people have avoided this simple advice and adhered to a pattern of low-priced gold, there were duped by sophisticated fraud-artist posing as a genuine gold dealer.
           The actual goal of the con-artist is to part you from your hard-earned cash, many of the gold frauds circulating worldwide start from Africa. Several criminal claims to be mine owners and have mining operations in nations like Burkina-Faso, South Africa, and Ghana, Africa's top producers of gold. The Tricksters always guarantee to be offering gold using the legitimate procedure and often offer a large quantity of gold at huge discounts.
           Gold buyers and mints worldwide are tricking, as they search for genuine gold suppliers. Huge sums of monies are lost to the tricksters that run this sophisticated gold rip-off syndicate. The latest attractiveness of gold and the limited supply is forcing long time gold merchants to establish contact with new suppliers and connections, most of whom are crooked.
Please do not hesitate to contact me if you have interest in Gold or you know somebody that has a genuine interest in Gold and Diamonds. I can only guarantee a good Discount, World market price.

Name: Mr Edwin Campbell,
Email: EdwinCampBell@ghanagoldagents.net
Location: Accra Ghana
Read More about: CIF Gold Offer,

                                   &  FOB Accra Gold Offer.

Ghana PMMC
To trade cost-effectively in gold, diamonds, precious and semi-precious stones locally and internationally, efficiently produce quality jewellery through highly skilled as well as motivated staffs to guarantee customer satisfaction and augment shareholder value. In April 1989 the PMMC was charged with the task of promoting small scale gold mining Ghana.

Precious Minerals Marketing Company Limited (PMMC) is a Limited Liability Company operating under the Companies’ Code, with the Government of Ghana as the sole shareholder. The authorized businesses of PMMC are:

  • To grade, assay, value and process precious minerals;
  • To buy and sell precious minerals;
  • To appoint licensed buyers for the purchase of precious minerals produced by small – scale miners;
  • To promote the development of precious minerals and the jewellery industry in Ghana.
  • To do all such things as are indicated or conducive to the attainment of its objectives and functions.
  • To export gold on behalf of third parties for a commission.
Other Gold refineries in Ghana has an installed monthly capacity and is manned by expert team who offer the following range of services:

  • Smelting Services
  • Bullion Assay
  • Refining Services
  • 3rd Party Gold Purchases
  • Export Service
  • International Gold Buyer - Local Gold Seller Inter-mediation Service
  • Vault Services. Valuation is done on the day of deposit.
Gold as a mythical commodity is used as a symbol of love, wealth, and power by ancient pharaohs, modern-day rappers and untold couples,

In the past decade, storefront shops began popping up around Silicon Valley and across the country as gold prices remained high and people turned their jewellery and other gold into cash during tough economic times.
"Gold's been around for thousands of years," said Foldvary, who holds gold mining stocks as a minor part of his own investment portfolio. "And gold remains implicit money. Central banks want to hold gold. China and Japan are increasing their gold holdings, so gold operations will continue...

Gold C.I.F SBLC, and BG

Buyer shall send Bank Guarantee (BG), Standby Letter of Credit (SBLC) For the entire term of the contract per our Financiers Bank verbiage as a Guarantee of Payment for 100% CIF. 
We also accept Block funds via MT-799
* Shipments shall be 100% CIF.
* Seller shall pay all expenses to deliver the Gold to the buyer's refinery in the buyer country.
*The Gold shall be processed and delivered in batches monthly.
  • Commodity:                 Gold
  • Origin:                         Republic of Ghana
  • Form:                           Gold Bar
  • Product-History:          Clean, Clear, No Liens and Non-Criminal Origin
  • Delivery:                       CIF
  • Minimum Quantity:      50 kilos
  • Price:                            Negotiable
  • Currency:                     USD
  • Payment:                      Wire-Transfer
 Below are the PROCEDURES acceptable to us for the execution of the transaction:
  1. Seller and Buyer shall sign the Sales and purchase agreement (SPA).
  2. Then, the buyer’s bank shall send a swift irrevocable, transferable, and confirmable SBLC, or BG to Seller's Financier Bank.
  3. Upon receipt of Banking Instrument, Seller shall prepare the 1st monthly tranche for shipment to Buyer's nominated destination airport.
  4. Before shipment, the Gold will be Assayed at a Government approved refinery in Ghana and the Assay report with other shipping documents sent to the Buyer and copies both seller and buyers banks.
  5. Gold arrives at the buyer's destination airport. The buyer shall be responsible for duties, Clearance, and Government taxes at the destination port.
  6. Buyer's refinery shall conduct Final Assay, and issues report determining the actual weight and purity of Gold, which will serve as the bases for payment.
  7. Based on the final weight and purity of the Gold, the seller will present a commercial invoice for the full value of the Gold.
The Above is our outdated CIF Procedures

We have stopped accepting banking instruments such as BG, SBLC, and DLC as a guarantee of payment; because our bank has stopped honouring international banking instruments. Therefore, we have no option than to stop accepting it as a form of guarantee of payment.

Gold bars

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Gold C.I.F SBLC or BG via Swift MT 760

Commodity            :  Gold
Origin                     :  Republic of Ghana
Form                       :  Gold Bar
Product-History     :  Clean, Clear, No Liens and Non-Criminal Origin
Delivery                  :  CIF
Purity                      :  92+ Fineness
Minimum Quantity :  50 kilograms
Each shipment and delivery shall be identified with all assigned contract reference codes and numbers.
The Following documents shall be issued prior to shipping and arrival of gold:
Ø    Commercial Invoice
Ø     Packing List
Ø     Assay Report
Ø     Certificate of Origin
Ø     Bank of Ghana export declaration
Ø     Customs Declaration forms
Ø     Airway Bill
Price                        :  Negotiable
Currency                 :  USD
Payment                  :  Wire-Transfer

Buyer shall send Bank Guarantee (BG), or Standby Letter of Credit (SBLC) via Swift MT 760 for a term of one year and one day (366 days) and the funds will remain unencumbered during this period. For the entire term of the contract in accordance with our Bank verbiage as a guarantee of Payment for 100% CIF.
* Shipments shall be 100% CIF.
* Seller shall pay all expenses to deliver the gold to buyer's refinery in Buyer's country.
ü  The gold shall be processed and delivered in batch on a monthly basis.

 We are in partnership with a registered gold trading; Government approved gold Refinery and Export Company in Ghana with two mining Concessions. The Refinery also have Export License to export Gold to any country in the world. They have about 32 buying centers (Small Mines) that they finance for them to mine and deliver Gold to the company at discounted price, because the company pre-finances their operations. 
With 32 buying centers fully financed, a total of 350kg monthly is guarantee, However, if buyer can provide SBLC or BG for a minimum of 50 kilograms on a one (1) year contract, we can deliver to any destination of buyer’s choice.
           We can deliver about 3,600 kg annually on CIF basis. Payment will be based on minimum 92.00% and maximum 99.99% purity after final assay at buyer’s destination refinery.

Below are the PROCEDURES acceptable to us for the execution of the delivery: 
...1...              Seller and Buyer execute SPA and deposit with respective banks.
...2...              Within 2 working days, Buyer Bank swift irrevocable, transferable, and confirmable Standby Letter of Credit (SBLC) or BG to Seller’s Bank.
...3...              Upon receipt of SBLC/BG, Seller’s Financier Bank shall issue a 2% Performance Bond to activate the SBLC/BG.
...4...              Within 7 days after issuing the 2% Performance Bond, Seller prepares the first monthly tranche for shipment to Buyer’s nominated destination airport.
...5...              Before shipment, the Gold is Assay at Government approved refinery in Ghana and the Assay report with other shipping documents sent to Buyer and copies both seller and buyers banks.
...6...              Gold arrive buyers destination airport. Buyer shall be responsible for duties and Government taxes at the destination airport and for clearance of Gold to buyer destination Refinery.
...7...              Buyer’s refinery conducts Final Assay and issues report to determine actual weight and purity of Gold, which will serve as the bases for payment.
...8...              Based on the final weight of the gold and the final purity of the assay, seller will present a commercial invoice for full value of assayed gold.
The Above is our outdated CIF Procedures

We have stopped accepting banking instruments such as BG, SBLC, and DLC as a guarantee of payment; because our bank has stopped honouring international banking instruments. Therefore, we have no option than to stop accepting it as a form of guarantee of payment.

If the above PROCEDURE and PRICE are acceptable to you kindly revert so that we proceed to Draft SPA for your review, completion and signature.

Diversification of Gold profits

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Paxful is a peer-to-peer bitcoin online marketplace. It has over 300 payment methods to use, now allows users to transact in Gold.
The procedures involve the seller and the buyer first to negotiate and mutually agree on terms and conditions that include whether the gold exchange will happen in person and at what location. The bitcoin (BTC) owner will then sends the agreed-upon amount into a Paxful escrow, where it sits until the gold owner confirms gold transfer, and the other party confirms receipt. Then, Paxful releases the bitcoin. All this must be accomplished within 21 days of payment. Click here to read more about Paxful. 

13th China Gold and Precious Metals Summit 2018

GHANAGOLDAGENTS.NET  is Collaborating  with China's Leading Annual Precious Metals Gathering for Knowledge Sharing and Partnership opportunities
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CALL US TODAY FOR REGISTRATION: Tel: +86 21 51615300 Fax: +86 21 51809518 Email: marketing@igvision.com Web: www.chinagoldsummit.com

Gold FCO FOB/CIF Nairobi Kenya

Gold for Sale in Nairobi Kenya
Gold Bars and Nuggets

Commodity: Gold Bars/Nuggets
Price: Negotiable
Purity: 95+% or better
Quantity:  Buyer’s Request
Product history: Clean, too clear. Not liens and non-criminal origin.

1. Seller sends FCO to the buyer and the buyer signs the FCO and returns it to the seller.
2. Seller prepares draft contract and sends to buyer for consideration and amendments if any.
3. Buyer and Seller sign contract.
4. The Buyer or his representative shall fly to NAIROBI KENYA for joint Table-Top Meeting (TTM), physically check and verify the availability of the Gold Bars/Nuggets, conduct a test of the gold and seal the product. 
5. Once Test/assay is confirmed by both sides, the buyer PAYS FOR FULL DOCUMENTATION COST, while THE SELLER RELEASES collateral gold  EQUIVALENT TO THE 8% EXPORT COSTS AND RELATED GOVERNMENT ROYALTIES AS COLLATERAL TO THE BUYER. The Collateral shall be held at the buyer’s safe deposit until shipment is effected.
6. Once all export documents are ready, seller will travel together with buyer, to Buyer’s refinery to witness final assay and, for the payment of the 92% balance.
 7. After final assay at buyer’s refinery, buyer will then have to pay complete amount in commercial invoice  within 72 hours through T/T.
8.  With proceeds from the first transaction, Seller will have to cover all export and travel expenses to buyer’s destination as from Second shipment and above.

The Seller declares that he has the full legal title and possession of the offered Raw Gold Dore Bars and has full Government approval (if where required) to sell and export Raw Gold(S) of non-criminal origin, and with no liens and / or encumbrances attached or pending under the terms of this full Corporate offer.

MANDATES are required to negotiate their commission with us before referring the end buyer to me. 
Standard mandate commission is 3.00% (Three percent)


Final purchase contract shall be prepared and signed by both the seller and the buyer.

The seller has confirmed with full corporate authority under the penalty of perjury that they are ready, willing and able to enter into an agreement with the buyer, to provide gold bars that are of non-criminal origin in exchange for payment that is of non-criminal origin. All terms of relevant United Nations resolutions and national government laws and regulations pertaining to the control and trading of Gold shall be complied with.

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