GRA Tax Stamp Exercise Leaves Shelves Empty
The Ghana Revenue Authority (GRA), has cleared the shelves of some shops in Accra that are selling products without the excise tax stamp.
This comes more than a month after the expiration of its deadline of March 1st for such businesses to have the stamp fixed on selected products.
This move forms part of the government’s agenda to ensure that businesses pay the right taxes.
Citi News was with the GRA enforcement team at Melcom plus at North Industrial Area to check stamps on all products in the supermarket.
The GRA found alcohol bottles on the shelves of Melcom without the tax stamps, and has directed the company to clear the entire alcohol products with no stamps on them.
Most of the shelves have been left empty, and the GRA promised to confiscate all items with no tax stamps the next time they visit.
GRA officials proceeded to other shops in Accra to perform a similar exercise.
The Ghana Revenue Authority (GRA), gave 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, 1st March 2018.
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 to grant the user access to the Tax Stamp Portal to the registered taxpayers for the administration of the programme
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.
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