Be prepared to pay more for the beverage you purchase at least within the coming weeks. This is because the excise tax stamp duty will result in increased cost of such products.
This is the caution coming in from some importers of food products.
The caution also follows the implementation of the Excise tax stamp duty by the Ghana Revenue Authority to enable it monitor tax compliance by manufacturers and importers.
Products to be affected by this policy include alcoholic beverages, bottled water, non-alcoholic carbonated beverages as well as tobacco products.
The tax stamp policy has been met with stiff opposition as businesses complain of delaying the process at the ports.
Speaking on Business Today, the Executive Secretary of the Food and Beverage Association of Ghana, Sam Aggrey said the increased prices will be necessary to keep their businesses in operation.
“You are going to pay additional cost for buying any bottled beverage. They tell you the cost of the stamp is negligible but when you quantify it…. anything that has to do with imports. The law also allows the Commissioner General has the right to determine which product must come on board, anything that can be taxed,”
“They’re also looking at things that we import most and that is a wrong premise that they’re starting on,” Sam Aggrey stated.
By: Pius Amihere Eduku
