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Transfer Pricing Fraud In The Ghana S Mining Sector

Transfer Pricing Fraud In The Ghana S Mining Sector

US$160 billion every year through transfer pricing fraud. Recent studies in the mining sector showed that Ghana loses about US$36 million a year through transfer pricing.”

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  • Addressing The Challenges Of Transfer Pricing

    US$160 billion every year through transfer pricing fraud. Recent studies in the mining sector showed that Ghana loses about US$36 million a year through transfer pricing.”

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  • Transfer Pricing In The Extractive Sector In Ghana

    Transfer Pricing in the Extractive Sector in Ghana - Natural Resource ... Ensure the Mining and Petroleum Desks, and the Transfer Pricing Unit receive specialized audit ...fraud. The finance ministry is considering reviewing the penalties, which may include a specific penalty to discourage transfer pricing.

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  • Political Economy Of The Mining Sector In Ghana

    government a limited share of revenues and the problem of transfer pricing. 2. Institutions and the political environment are central to understanding and rectifying the poor impact of mining on Ghana’s economic development. This section highlights the vulnerabilities in mining sector governance along the natural resource management value

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  • Transfer Pricing In The Mining Sector

    Transfer Pricing in the Mining Sector: Preventing Loss of Income Tax Revenue into two categories: (1) the sale of minerals and/or mineral rights to related parties; and (2) the purchase of various goods, services and assets from related parties.

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  • Transfer Pricing In Mining With A Focus On Africa A

    Part A (The mining industry and transfer pricing) identifies what are the most common transfer pricing issues in mining in general and where they are likely to occur along the mining value chain. Part B (The mining industry in Africa and transfer pricing) considers the same issues specifically in the context of the main commodities currently ...

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  • Preventing Tax Base Erosion In Africa A Regional Study

    generally applicable transfer pricing rules, leaving an ambiguity that could be exploited by, or lead to disputes with, mining companies. • Assessing transfer pricing in a way that is consistent with the arm’s length principle requires data on comparable independent transactions. Data specific to Africa’s mining sector does not yet exist.

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  • Ghana Extractive Industries Transparency Initiative

    Feb 15, 2021 Ghana's national oil company GNPC represents the country’s interest in the oil sector by engaging in exploration, development, production, and disposal of hydrocarbon resources on behalf of the state. GNPC sells its production share and royalties collected in-kind from other companies on behalf of the state to commodity trading companies.

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  • The Impact Of Beps On The Global Mining Industry Tax

    The Deloitte report puts the matter into the following context: “With the global mining sector as a whole coming to terms with reduced commodity prices and diminishing prospects in China, the difficulties that may be imposed by BEPS are both an unwelcome distraction and an additional layer of uncertainty for the future of the mining industry.

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  • What Mining Can Learn From Oil A Study Of Special

    However, transfer pricing can become abusive when the related parties distort the price of a transaction outside an arm’s length value to make higher profits in lower-taxed jurisdictions and lower profits in higher-taxed ones, as a means of reducing the MNE’s overall tax bill. There are two main transfer pricing risks in the mining sector ...

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  • How To Improve Mining Tax Administration And

    In an attempt to address this challenge and bridge this gap, the World Bank’s Oil, Gas and Mining unit engaged the Centre for Exploration Targeting of the University of Western Australia to assess mining revenues collection administration settings and prac - tices in selected African countries (Burkina Faso, Ghana, and Mali). This review included

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  • Mining Of Gold In Ghana Overview Energy And Natural

    Jun 26, 2019 Under the principal Act, the Minerals and Mining Act, 2006 (Act 703), every mineral in its natural state in, under or upon any land in Ghana, rivers, streams, water-courses throughout the country, the exclusive economic zone or any area covered by the territorial sea or continental shelf is the property of the Republic of Ghana and is vested in ...

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  • Setting Up Of A License Gold Export Company In Ghana

    Jun 20, 2019 Ghana's gold deposit is evident in the gold reserves which according to the US Geological Survey is estimated to be 50 million ounces (1,600 tons). Ghana requires a particular method of setting up mineral purchasing and export company with a licence from the minerals commission to deal in gold trading and export.

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  • Tax Solutions For Mining Taxation Services Deloitte

    Transfer Pricing Challenges mining companies face. The mining industry poses some very specific challenges from a transfer pricing point of view. South African mining groups are often involved at more than one level in the supply chain. For example, the group may both mine and beneficiate the …

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  • Current Issues In Extractive Industries Taxation

    ongoing difficulties in applying transfer pricing approaches to EI product transactions. In addition, as noted in a report to the G20 Development Working Group: “ … countries often find it difficult to apply the [transfer pricing] criteria … to assess whether intra- group transactions accord with arm’s length

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  • Transfer Pricing In Mining Workshop World Bank

    Mar 08, 2017 Transfer pricing has emerged as a key area of capacity building for African governments. Responding to this and within the context of the African Mining Vision and the Report of the High Level Panel on Illicit Financial Flows from Africa (the Mbeki Report), the Africa Minerals Development Centre (AMDC) in partnership with the World Bank has commissioned the Mineral and …

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  • Preventing Tax Revenue Loss From Extractive Sector In

    Develop a transfer pricing risk matrix specific to the extractive sector. International Tax Unit and extractive industry audit team. Ensure that the Tanzania Mineral Audit Agency and PURA receive training on transfer pricing so that they are able to identify and evaluate transfer pricing risks regarding non-tax revenue, and deductible expenditure.

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  • Transfer Pricing In Mining An African Perspective

    8 OECD, (2014). Transfer pricing comparability data and developing countries, OECD Publishing. 9 OECD (2013), Action Plan on Base Erosion and Profit Shifting, OECD Publishing. 10 Including licence to extract and publish information from TPA’s “Transfer Pricing Handbook for the Mining Industry…

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  • Transfer Pricing In Mining An African Perspective

    Nov 28, 2014 A briefing note Transfer pricing in mining: An African Perspective, has been published by IM4DC, the World Bank (WBG) and the Centre for Exploration Targeting (CET) at The University of Western Australia.The report highlights the objectives, methodology and current progress of a study on transfer pricing with specific focus on mining in Africa.

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  • Ministry Of Trade And Industry Laws Amp; Regulations

    Key Investment related legislation in Ghana includes the following: Ghana Investment Promotion Centre Act 2013, (Act 865) Technology Transfer Regulations, 1992, (LI 1547) Transfer Pricing Regulations, 2012 (L.I. 2188) Legislation that apply to Business Operations in Ghana …

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  • Transfer Pricing In Mining With A Focus On Africa A

    Transfer pricing in mining with a focus on Africa : a reference guide for practitioners (Franc s) Resumo. This book presents the results of a study on transfer pricing (TP) with specific focus on mining in Africa commissioned in early 2014 by the World Bank Group (WBG) in partnership with the International Mining for Development Centre (IM4DC).

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  • Ghana Corporate Group Taxation

    No form of combined reporting of results of operations by a group or affiliates is permitted. Transfer pricing. The Transfer Pricing Regulations follow the internationally accepted guidelines published by the Organisation for Economic Co-operation and Development (OECD), only with a much broader perspective on the nature of entities and transactions.

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  • ‘Amend Laws To Tackle Corruption In Extractive Sector

    “Indeed we find Ghana’s extractive industry , the usual suspects such as bribery, influence peddling, conflict of interest but there are also sector-specific, highly sophisticated forms in which corruption manifests its self in the extractive industry including the abuse of use of shell companies, Base Erosion and Profit Shifting (BEPS_, Transfer Pricing Tin Capitalization and so on,” he said.

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