Government of Ghana has stressed that the excise tax stamp policy will not add unto the tax burden of manufacturers and retailers even as it begins to roll out the policy.
Ministry of Finance announced, the policy will encourage tax compliance while protecting the consuming public against harmful and unwholesome products.
The excise tax stamp among others requires manufacturers to affix stamps on all excisable products.
The stamps are either manually attached after the production process or electronically generated during the production chain.
The move has been met with stiff opposition from some key business associations. The businesses have expressed worry over a possible rise in prices of such excisable goods.
Kweku Kwarteng a Deputy Finance Minister said that his unit will continue dialogue to reduce any apprehension.
He stated all the things that have to be done in order to make this policy work will now be done. These will include; how we affix the stamps, how we employ, which other product we will rope in, among others. All those arrangements would have to be done.
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