Business News of Wednesday, 3 October 2018
Source: www.ghanaweb.com
2018-10-03
Emmanuel Kofi Nti, Commissioner General of the GRA
As part of the effort to control counterfeit products on the Ghanaian market and enable government block tax leakages, the Ghana Revenue Authority has begun its Excise Stamp enforcement exercise.
The exercise is to ensure product manufacturers comply with the Excise Tax Stamp policy which is to be affixed on all excisable products.
In September 2018 , Commissioner-General of the Ghana Revenue Authority (GRA), Emmanuel Kofi Nti announced his outfit will commence a nationwide full enforcement and compliance exercise on the excise tax stamp after it launched the Tax Stamp Policy, which originates from the Excise Stamp Act, 2013 (Act 873).
In accordance to the above, the GRA task force team has been dispatched to ensure vendors who fail to stamp their product are sanctioned.
This includes an imposition of a 300 percent penalty of the duties and taxes involved.
Speaking to the media during a visit at FBC beverages, manufacturers of Pepsi Cola Chief Revenue Officer, Kwabena Apau Anto stated that taskforce team have been assigned across the country to ensure that no product leaves it manufacturing firms without a stamp.
“… now the new strategy is that, we are not going to see any new product without a stamp going into the market product you will not see We have positioned officers across the country especially at all the manufacturing firms of the excisable product and so we have positioned officers across the country especially at all the manufacturing firms of the excisable product “
“If you have stamp on the product we don’t have any problem with you but if you don’t have any stamp on your product, no product without the stamp is going out again,” he added.