The Exporters and Importers Association of Ghana are threatening to embark on a demonstration if government fails to withdraw the recent increase on tax stamp. The tax increment is to commence in March, 2016.
A tax stamp is attached to certain products or documents and paid to government to indicate that a required tax has been paid.
Parliament in 2013 increased the tax stamp which was meant to increase government revenue and to curb importation and smuggling of cheaper goods that unfairly compete with indigenous industries.
This received a lot of backlash leading to its review by government. Government recently introduced the ECOWAS Common External Tariff which did not go well with a number of business groups.
The traders say constant escalation in taxes will collapse their businesses. But in an interview with Citi Business News, Executive Secretary of the Importers and Exporters Association of Ghana, Mr Sampson Awingobit Asaaki, said they will hit the streets to stop its implementation.
‘‘Let me caution a warning, if care is not taken, importers and agents and other stakeholders, we will meet and decide what to do. If we have to demonstrate, we will demonstrate to show government our displeasure of what is happening in the industry”.
“We are not in acceptance because the kind of hardships we go through, be it the congestion at the port, be it to demolish of the rent issues is unbearable. It is about tax that is why we are concerned. So if government wants to increase this tax too then importers are not happy and not in the mood. Government should rather take a second look at it again’’, he added.
By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana