Excise Tax Stamp policy
The Ghana Revenue Authority (GRA) says it is determined to ensure the newly introduced Excise Stamp regime works, as it blocks tax leakages and boosts government’s revenue.
Head of Excise unit at GRA, Kwabena Anto Apau, who gave the assurance, stated that mostly taxes on tobacco and beverages are not paid although the GRA needs more revenue for Ghana’s development.
“We must also ensure that tax compliant businesses are protected from harsh effects of activities like smuggling and under-invoicing” he added.
Anto Apau was speaking to the media when the GRA Excise stamp enforcement team paid unannounced visits to some big supermarkets across the capital to inspect and ensure compliance with the Excise Tax Stamp which is to be affixed on all excisable products.
The directive took effect on March 1, this year amidst complaints especially from members of the Food & Beverage Association of Ghana (FABAG).
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).
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