The Ghana Revenue Authority (GRA) has given manufacturers and importers of excisable goods a three day ultimatum to fix the tax stamps on their products or have their goods seized.
The decision comes on the back of a monitoring exercise on the compliance of the tax stamp policy beginning today, 1st March 2018.
The tax stamp has been met with stiff opposition from key business associations who say they are unable to bear the additional cost of fixing the stamps.
But the GRA insists the policy is necessary to stop tax evasion.
Citi Fm‘s Anita Arthur was part of a monitoring team and reported that a visit to Shoprite at Osu Mall showed that a majority of imported cigarettes as well as alcoholic and nonalcoholic beverages had the tax stamp on them.
The situation was however the opposite with locally manufactured drinks which did not have the tax stamps on them.
When questioned about why the locally produced products did not have the tax stamps, the Operations Manager at the Osu Mall, Paul Adamson explained as,
“I believe the reason why most of the shops have not yet acquired the tax stamp especially on the local products is because they feel enforcement has been weak. However with this exercise GRA is doing, the shops will no longer hesitate to acquire the stamps and put them on their products.”
The team then moved to Airport Shell, Koala and then to Accra Mall where they visited Shoprite and Game.
Mr Kwabena Donkor advised all of them to acquire the tax stamps as soon as possible to avoid having their products confiscated and destroyed.
Goods expected to be affected by the excise tax stamp include cigarettes and other tobacco products, bottled or canned alcoholic beverages and nonalcoholic carbonated beverages as well as bottled water.
About Tax Stamp
In accordance with the Provisions of the Excise Tax Stamp Act, 2013 (Act 873) specified excisable products which are imported or locally produced, are required to be affixed with Tax Stamps with specific features designed and supplied by the Ghana Revenue Authority before they are delivered ex-factory, cleared from any port of entry or presented for sale at any commercial level in Ghana.
As part of measures to ensure the smooth and effective implementation of the Tax Stamp programme, all importers and manufacturers of the affected products are required to register with the Ghana Revenue Authority (GRA).
The registration is mandatory under section 4 of the Act and it shall among others, enable GRA grant user access to the Tax Stamp Portal to the registered taxpayers for the administration of the programme.
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By: Anita Arthur/citibusinessnews.com/Ghana