Tax Stamp launch faces stakeholder boycott

The launch of the Tax Stamp policy which is slated for Thursday, August 31, 2017 may suffer a setback as opposition to the move intensifies.

The policy requires that specified excisable products are 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 and presented for sale at any commercial level in Ghana.

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

According to stakeholders, they will boycott the launch if the Finance Ministry does not pay heed to their call for a general meeting of all stakeholders to be organised by the Ministry to address challenges raised at a previous engagement with the Ministry.

“All stakeholders together with the Ministry of Finance should propose a comprehensive programme towards the implementation of the tax stamp project to the satisfaction of industry”, maintains the group.

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This was contained in a joint statement by the National Association of Sachet and Packaged Water Producers, Importers and Exporters Association of Ghana, Food and Beverages Association of Ghana, Ghana Union of Traders Association, Ghana Institute of Freight Forwarders and Wholesalers and Shop Owners Association of Ghana in Accra on Wednesday.

The group said a letter dated August 28, 2017 requesting the postponement of the launch of the project was treated with contempt by the Ministry.

The press release states that there have been insufficient stakeholder engagement to address issues confronting the industry and the project.

According to them, the launch was too close to enable resolution of challenge raised at first introduction of the tax stamp project.

It said the Ministry also failed to address the high cost of acquiring, operating and maintaining the tax affixing machine.

“There is need for government to position the stamp affixing machines at all border points. We believe the challenge of realizing full revenue from tax has to do with smuggling. However the suspected borders are being left out and this is a sure recipe for failure. What happens after the six months of free supply of tax stamp?" they quipped.