Business News Mon, 29 Feb 2016

More groups oppose excise tax stamp

The implementation of the tax stamp policy which is set to commence Wednesday, March 1st, may suffer a setback as opposition to the move intensifies.

The latest to join in the call for the scrapping off of the policy is the Ghana Institute of Freight Forwarders.

The policy requires that specified excisable products are affixed with Tax stamps with specific features designed and supplied by the GRA before they are delivered ex-factory, cleared from any port of entry and presented for sale at any commercial level in Ghana.

Products to be affected by this include alcoholic beverages, bottled water, non-alcoholic carbonated beverages as well as tobacco products.


The Importers association had earlier raised concern at the increase in the tax stamp and threatened a demonstration following government’s refusal to reduce it.

In an interview with Citi Business News, John Mantey of the Technical Committee of the Ghana Institute of Freight Forwarders said, the implementation of the tax stamp policy will further compound the already burdened clearing process at the ports.

“I don’t even know the idea behind that whether to protect the local consumer or whom are we protecting? Every single box you have to put a stamp on it; one person brings in a machine, sets it somewhere… now go to the port, the queues there, get those goods on the truck you take them to another place and then you have to offload them-labour, you will have to pay for that,” John Mantey remarked.

“Where are we going as a country? The standard board’s stamp is on every single item that is imported into the country. Let’s think about these things and make sure something better is done. This tax stamp is a no-no for anyone,” He further stressed.

Source: citifmonline.com