{"id":391160,"date":"2018-01-13T06:00:23","date_gmt":"2018-01-13T06:00:23","guid":{"rendered":"http:\/\/citifmonline.com\/?p=391160"},"modified":"2018-01-12T19:58:13","modified_gmt":"2018-01-12T19:58:13","slug":"gra-prosecute-defaulters-excise-tax-stamp","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2018\/01\/gra-prosecute-defaulters-excise-tax-stamp\/","title":{"rendered":"GRA to prosecute defaulters of excise tax stamp"},"content":{"rendered":"

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.<\/p>\n

The GRA has also warned that defaulters will risk seizure of their goods for non-compliance.<\/p>\n

The sanctions are however expected to be rolled out in April when the grace period would have elapsed.<\/p>\n

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.<\/p>\n

The implementation of the excise tax stamp is among others to\u00a0ensure tax compliance<\/a><\/strong><\/span>\u00a0and improve government\u2019s revenue.<\/p>\n

The Technical Advisor to the Commissioner at the GRA, Sam Akwesi Nyankyera explained the Authority\u2019s intended action to\u00a0Citi Business News<\/strong>.<\/p>\n

\u201cWe 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,\u201d he said.<\/p>\n

The introduction of the excise tax stamp has been\u00a0met with stiff opposition<\/a><\/strong><\/span>\u00a0from the businesses expected to abide by the policy.<\/p>\n

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).<\/p>\n

After, the government will reduce its subsidy to 50 percent and subsequently wean itself off the cost of fixing the stamps.<\/p>\n

Mr. Nyankyera was however confident that the enforcement of the sanction should reduce resistance to the tax policy.<\/p>\n

\u201cWe 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,\u201d he added.<\/p>\n

–<\/p>\n

By: Pius Amihere Eduku\/citibusinessnews.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

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 […]<\/p>\n","protected":false},"author":14,"featured_media":240965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,171,11,1166],"tags":[],"yoast_head":"\nGRA to prosecute defaulters of excise tax stamp - Citi 97.3 FM - Relevant Radio. 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