CTW Fumes as Government Delays Tax Stamp Implementation

03-05-2019

CTW Fumes as Government Delays Tax Stamp Implementation

The Coalition of Textiles Workers, an active body in the fight for the implementation of the textile tax stamp is unhappy with government’s lateness in helping bring sanity into the textile industry.

According to the Coalition of Textiles Workers, the local textile industry is suffering from a lot of factors including unfair competition from pirated textiles. They mentioned that the situation calls for a rapid response from the government.

Speaking in an interview, John Ackon, Spokesperson for Coalition of Textiles Workers (CTW), noted that although the sector Minister, Alan Kyerematen, Ghana Revenue Authority (GRA) and other stakeholders involved in the issue are working to get to the bottom of the matter, a lot more is expected of the minister to fast-track the process.

“We know the sector minister is doing his best but the delay is actually too much…if we leave everything like this, if we are not careful things will go wrong.” We think that what must be done need to be done and must be done fast. The industry is still suffering and needs a rapid response.” 

“We expect that the contract of the tax stamp needs to be signed so that the tax stamp will be printed for us to start using.”

John Ackon also revealed that nothing has been done about the zero-rated VAT promised the industry although it was expected to take off on 1st January 2019. He stated that for the Ghanaian textile industry to survive certain key initiatives like the tax stamp must be implemented to ensure its success.

He concluded by saying that election year is fast approaching and the government needs to speed up the process of this policy to prevent the industry from suffering the negative impact.

Background

The Trade Minister, Alan Kyerematen announced in that 2018 that effective September 1st there will be a restriction on the importation of textiles into the country by way of tax stamp and an empowered task force. 

Local textile producers will affix tax stamps issued by the Finance Ministry to their products to help clamp down the importation of substandard textile.

 

Source: https://www.ghanaweb.com/GhanaHomePage/business/CTW-fumes-as-government-delays-tax-stamp-implementation-742230

GNBCC | News