General News of Sunday, 28 March 2021Source: www.ghanaweb.comThe Executive Director of the African Center for Energy Policy (ACEP), Benjamin Boakye has maintained that there should be a proper system established to track every ounce of gold produced in the country. He explained that it raises a lot of concerns to learn that the country loses up about $5 billion yearly from unaccounted gold and the smuggling of thereof. "In some instances, the gold buyer will ask you, if I'm taking withholding, this is the price I'm offering for the gold, if I'm not, this is the price. And, usually the price for not taking the withholding is higher, so the incentive then to pay taxes was non-existent. So, we really need to know how much gold is produced but unfortunately, the incentive to do the hard work, that is the hardest work and to engineer policy to stop the illegality and track production," he explained.

Source: GhanaWeb March 28, 2021 08:26 UTC