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January 13, 2018 | Business & Finance

GRA Haunts Defaulters Of Excise Tax Stamps

CitifmOnline
GRA Haunts Defaulters Of Excise Tax Stamps

The Ghana Revenue Authority (GRA) has served notice it will prosecute all businesses who fail to comply with the implementation of the excise tax stamp policy.

The GRA has also warned that defaulters will risk seizure of their goods for non-compliance.

The sanctions are however expected to be rolled out in April when the grace period would have elapsed.

Starting this year, all manufacturers and importers of excisable products are expected to fix hologram stamps on their products before they could sell to consumers.

The implementation of the excise tax stamp is among others to ensure tax compliance and improve government's revenue.

The Technical Advisor to the Commissioner at the GRA, Sam Akwesi Nyankyera explained the Authority's intended action to Citi Business News.

“We may first detain the goods and then the manufacturer or importer will have to explain to the satisfaction of the Commissioner General, why they do not have the tax stamp on their products which I presume may not be satisfactory, then the detention may be converted to seizure,” he said.

The introduction of the excise tax stamp has been met with stiff opposition from the businesses expected to abide by the policy.

Government has however sought to address such concerns with the rolling out of a subsidized system where it assumes the full cost of the stamps for the first six months (January to June 2018).

After, the government will reduce its subsidy to 50 percent and subsequently wean itself off the cost of fixing the stamps.

Mr. Nyankyera was however confident that the enforcement of the sanction should reduce resistance to the tax policy.

“We will have officers and we are planning to also involve compliant officers and other agencies to help in the enforcement. So those goods on which the taxes have not been fixed, they may be liable to seizure. For the person involved, if he or she conducted himself in such a way as to how it infringes on any aspect of our law, then the person may also face sanctions depending on the provisions of the law,” he added.

quot-img-1“The game should be played in t he moment”

By: Kevin Abdulrahman quot-img-1
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