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Business News of Friday, 27 September 2019

Source: www.ghanaweb.com

GRA enforces tax stamp compliance in Eastern Region

Officials from the Excise Unit and Task Force Division of the Ghana Revenue Authority have embarked on an exercise in some local manufacturing companies in the Eastern Region in a bid to ensure compliance with the Tax Stamp Policy.

The operation, which was also aimed at educating manufacturers on the use of the Tax stamp authenticator saw some products confiscated for not conforming to the rules.

The Excise Tax Stamp was specially designed with digital and other security features which is affixed on excisable goods to show that taxes and duties have or will be paid.

It is aimed at controlling the importation and local production of goods for revenue purposes, checking the illicit trading, smuggling and counterfeiting of excisable products, check under-declaration of goods and protect and increase tax revenue.

The unannounced visit which focused on bottled beverages took the taskforce team to Joy Industries Limited at Akwadum, producers of Joy alcoholic beverages and other products, Kwayisi Christian Herbal Centre at Nankese-Ayisiaa, CSIR Water Company at Nankese, Double ‘C’ Enterprise at Okorase, and Baacal Wines at Mile 50, wholesaler and retailer of both foreign and local alcoholic beverages.

At Baacal Wines, some local and foreign drinks were seized because they had no tax stamp on them.

According to the Chief Executive Officer of Joy Industries, Dr Manfred Takyi, the tax stamp has been of a benefit to the company because they help check criminals who might be producing fake products through the imitation of their brand.

A Revenue Officer from the Excise Unit at the GRA , Joseph Nii Okai, who was satisfied by the level of compliance, spoke about measures taken put in place against companies that do not comply with the policy.

The exercise is expected to be replicated in all regions across the country.



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