{"id":611234,"date":"2019-04-29T16:45:00","date_gmt":"2019-04-29T16:45:00","guid":{"rendered":"<br><div>\n<p class=\"floatLeft\">Business News of Monday, 29 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Nii Ayi Mensah Lartey<\/p>\n2019-04-29\n\n<div class=\"article-left\">\n<p class=\"article-image\"><img src=\"https:\/\/cdn.ghana-mma.com\/2019\/04\/"},"modified":"2019-04-29T16:45:00","modified_gmt":"2019-04-29T16:45:00","slug":"ctw-fumes-as-government-delays-tax-stamp-implementation","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2019\/04\/29\/ctw-fumes-as-government-delays-tax-stamp-implementation\/","title":{"rendered":"CTW fumes as government delays tax stamp implementation"},"content":{"rendered":"<p><\/p>\n<div>\n<p class=\"floatLeft\">Business News of Monday, 29 April 2019<\/p>\n<p class=\"floatRight\"><strong>Source: <\/strong>Nii Ayi Mensah Lartey<\/p>\n<p>2019-04-29<\/p>\n<div class=\"article-left\">\n<p class=\"article-image\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/cdn.ghanamma.com\/2019\/04\/47145727.295.jpg\" alt=\"John Ackon Cccc\" title=\"John Ackon Cccc\" width=\"295\" height=\"393\" \/><span class=\"image_caption\"><span>Spokesperson for Coalition of Textiles Workers (CTW), John Ackon<\/span><\/span><\/p>\n<\/div>\n<p style=\"clear:right\">The Coalition of Textiles Workers, an active body in the fight for the implementation of the textile tax stamp is unhappy with government\u2019s lateness in helping bring sanity into the textile industry.<\/p>\n<p>According to the Coalition of Textiles Workers then local textile industry is suffering from a lot of factors including unfair competition from pirated textiles. They mentioned that the situation calls for a rapid response from the government.<\/p>\n<p>Speaking in an interview, John Ackon, Spokesperson for Coalition of Textiles Workers (CTW), noted that although the sector Minister, Alan Kyerematen, Ghana Revenue Authority (GRA) and other stakeholders involved in the issue are working to get to the bottom of the matter, a lot more is expected of the minister to fast-track the process.<\/p>\n<p>\u201cWe know the sector minister is doing his best but the delay is actually too much\u2026if we leave everything like this, if we are not careful things will go wrong.\u201d We think that what must be done need to be done and must be done fast. The industry is still suffering and needs a rapid response.\u201d <\/p>\n<p>\u201cWe expect that the contract of the tax stamp needs to be signed so that the tax stamp will be printed for us to start using.\u201d<\/p>\n<p>John Ackon also revealed that nothing has been done about the zero rated VAT promised the industry although it was expected to take off on 1st January 2019. He stated that for the Ghanaian textile industry to survive certain key initiatives like the tax stamp must be implemented to ensure its success.<\/p>\n<p>He concluded by saying that election year is fast approaching and the government needs to speed up the process of this policy to prevent the industry from suffering the negative impact.<\/p>\n<p><b>Background<\/b><\/p>\n<p>The Trade Minister, Alan Kyerematen announced in that 2018 that effective September 1st there will be restriction on importation of textiles into the country by way of tax stamp and an empowered task force. <\/p>\n<p>Local textile producers will affix tax stamps issued by the Finance Ministry to their products to help clamp down importation of substandard textile.<\/p>\n<\/div>\n<p>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<a style=\"display:none\" rel=\"follow\" href=\"http:\/\/megatheme.ir\/\" title=\"\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633\">\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Business News of Monday, 29 April 2019 Source: Nii Ayi Mensah Lartey 2019-04-29 Spokesperson for Coalition of Textiles Workers (CTW), John Ackon The Coalition of Textiles Workers, an active body in the fight for the implementation of the textile tax stamp is unhappy with government\u2019s lateness in helping bring sanity into the textile industry. According [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":611236,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-611234","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>CTW fumes as government delays tax stamp implementation - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2019\/04\/29\/ctw-fumes-as-government-delays-tax-stamp-implementation\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"CTW fumes as government delays tax stamp implementation - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"Business News of Monday, 29 April 2019 Source: Nii Ayi Mensah Lartey 2019-04-29 Spokesperson for Coalition of Textiles Workers (CTW), John Ackon The Coalition of Textiles Workers, an active body in the fight for the implementation of the textile tax stamp is unhappy with government\u2019s lateness in helping bring sanity into the textile industry. 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