Mahamudu Bawumia said tax exemptions claimed by someresources companies were not transparent, and in some cases, notbacked by records. He did not directly accuse any individualcompanies of wrongdoing.
"Improper accounting of resources on the part ofconcessionaires is a major source of revenue loss and it is forthis reason that we are reviewing the exemption process," hetold a meeting of donors and
Last month the International Monetary Fund called on
Official data was not immediately available on the volume oftax exemptions claimed by companies in the resources sector.However, finance Ministry data seen by Reuters showed that
"Our experience is that these costs that some miningcompanies actually incur are really a black box. They are nottransparent. We don’t really know," Bawumia said.
Mining companies operating in