Businesses welcome excise tax stamp                                                         

Businesses have welcomed the excise tax stamp which has been introduced by the government.

The tax stamp which will take effect in January next year will see traders who deal in both locally manufactured and imported products pay a specific amount on their goods.

Some Importers and Exporters earlier expressed misgivings at the development and threatened to pass on the extra cost to consumers.

But in an interview with Citi Business News, Corporate Relations Director at Guinness Ghana Breweries Limited(GGBL) Gabriel Opoku- Asare said he is hopeful the implementation of the tax stamp will be handled critically.

“As I stated earlier, we are not against the tax stamps as an industry. We think that it is the way that it’s being implemented. It should be the right way” he said.

He, however, admitted that government has begun engaging them on how best to ensure the success of the tax stamp.

“We want government to keep engaging us and government has started engaging the industry and we are happy about it. With that, it will not be inhibit  businesses. It’s the way it is been implemented that we are concerned about and we are happy that government has opened its doors to us and we are having that conversation”.

He added that “We have seen in other countries challenges with the applicator, cost of the stamps, and the compliance of the stamp itself. We want to engage government further and look at alternative solutions to make sure that this policy works”.

By: Jessica Ayorkor Aryee/citibusinessnews.com/Ghana

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