GRA Enforcement Team Storms Accra Over New Tax Stamp Policy

The Enforcement team of the Ghana Revenue Authority (GRA) has hit town to inspect and ensure compliance with the Excise Tax Stamp which is to be affixed on all excisable products by today, 1st March, 2018.

The GRA as part of measures to increase compliance in the collection of Excise launched The Tax Stamp Policy, which emanates from the Excise Stamp Act, 2013 (Act 873).

Tax Stamps are small stickers with security features supplied by government to some manufacturers and importers to be affixed to their products before they are released onto the market.

The presence of the Tax Stamps on a product, therefore, provides enough guarantee of product authenticity.

Commissioner General of GRA, Kofi Nti told the media  the  exercise is to measure the extent of compliance with the law.

” We have had a lot of discussions with key stakeholders in the area to ensure that it is implemented. While the state is clamoring more of  revenue to pursue its agenda, some stakeholders have been faulting the state and under reporting their case. So this measure is to ensure that we raise additional revenue and to curb the infiltration of smuggled products from the market,” he said.

Source: Starrfmonline