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Business News of Monday, 24 September 2018


GRA begins second phase of tax stamp compliance exercise next week

Emmanuel Kofi Nti, GRA Commissioner General play videoEmmanuel Kofi Nti, GRA Commissioner General

The Ghana Revenue Authority (GRA) is set to embark on a nationwide full enforcement and compliance exercise on the excise tax stamp to check illicit trading, smuggling and counterfeiting of excisable products on our markets.

Briefing the media on the new directive, the Commissioner General of GRA, Emmanuel Kofi Nti said the second phase of the enforcement and compliance exercise will ensure that manufacturers and importers adhere to the rules by attaching the tax stamps on their products.

According to him, the full implementation of the law is not to embarrass or harass anyone as perceived by the public but rather make sure there is total compliance with the law.

Stressing on the need to have an excise tax stamp on products, the GRA boss said failure to comply will lead to the complete detention, seizure and imposition of the required 300 penalty of duties and taxes involved on culprits.

He reiterated, “The days of impunity about non-compliance with the tax laws are completely over. We wish to convey to the public that they cannot choose and select which of the tax laws they want to obey. All sanctions enshrined in the law on failure to comply with the affixing of the excise tax stamp will be applied to the letter”.

To avoid such incidents from happening, Mr. Nti advised manufacturers, importers, wholesalers and retailers to operate in accordance with the requirements of Act 873 by affixing the excise tax stamps on their goods.

He further urged the public to desist from buying products with no tax stamps to ensure their safety and wellbeing.