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Business News of Wednesday, 28 November 2018


GRA storms Kempinski over tax stamps

The Ghana Revenue Authority has seized some assorted beverages on sale at the bar and stores of Kempinski Hotel Gold Coast City over non-compliance with the tax stamp law.

The liquors include Chase Vodka, Martin Blanco, Havana Club, Chivas Rigal, William Chase Elegant, Russian Standard Vodka, Hemey Cognac among others.

The move is coming on the back of similar action at manufacturing firms and retail shops.

The Excise Unit and GRA task force which conducted the seizure explained that the move is part of efforts to ensure full compliance of the tax stamp law.

The Excise Tax Stamp Act, 2013 (Act 873) which was passed by Parliament in December 2013 stipulates that excisable goods should be affixed with the tax stamps before they are put on the market for sale.

The excise tax stamps are specially designed digital stamps with security features which are affixed on specified excisable goods, whether locally manufactured or imported.

Goods affected by the law include cigarettes and other tobacco products, alcoholic beverages, whether canned or contained in kegs, non-alcoholic carbonated beverages, whether bottled, canned or packaged in any other form, and bottled water.

The enforcement of the act started at the ports on January 1, 2018, and the points of sale on March 1, 2018, with a special task force commencing the first phase of an enforcement exercise in Accra, Kumasi and Takoradi.

During the exercise, goods which did not have the excise stamps affixed on them were removed from the shelves of some shops but they were not seized.