Excise Tax Stamp: Gov’t calls bluff of food & beverage manufacturers

Government has called the bluff of the Food and Beverage Association of Ghana on the implementation of the Excise Tax Stamp. Deputy Finance Minister Kwaku Kwarteng said although his outfit will engage government on this policy, there’s no going back. “Government is determined to deploy this tax stamp. We are appealing to those of our manufactures t to take immediate steps to comply with the law,” he added. He adds that after the grace period, the government will hit hard on defaulters “When the grace period ends, there will be no easing of the pressure for anybody. Goods that are found not in compliance will be dealt with according to the law,” he stated on 3FM. There is mounting pressure on the Ghana Revenue Authority to put a hold on its planned enforcement of the Excise Tax Stamp as stakeholders raise various concerns including cost. Members of the Association threatened to withdraw their products and services from the market, if the GRA continued with the implementation of the Excise Stamp. Government has decided to commence the enforcement of the tax stamp policy from March 1. Paper stamps are supposed to be affixed to every bottle of excisable beverages or water, as well tobacco and tobacco products. By Grace Asare|3news.com|Ghana Follow @3Newsgh      ]]>