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GRA records 21% growth in revenue

botchway August 14, 2019

 

By Bernice Bessey: bbessey@yahoo.com

Emmanuel Kofi Nti, Commissioner-General of Ghana Revenue Authority (GRA) says the enforcement and compliance of the Excise Tax Stamp, in accordance with the Excise Tax Stamp Act, 2013 Act 873, has resulted in 21 percent growth in revenue.

According to the Commissioner-General, the enforcement of the Excise Tax Stamp has compelled companies that previously under-declared their taxes to make full closures.

He revealed that a company that was paying GH¢85,000 as tax is now paying GH¢420,000.

The enforcement has also exposed a company that was paying GH¢800,000 as tax but now paying GH¢1.1 million.

Although the enforcement of the tax stamp began barely a year ago, the number of companies complying has jumped from100 to 240 and still counting.

But despite this achievement, two cases are pending before the courts, whilst others are under investigations for affixing fake stamps on products.

To curb  the practice of faking the Excise Tax Stamps and to protect consumers from patronising unwholesome products, the Commissioner-General yesterday launched an app in Accra, in that respect.

He said the app, Ghana Tax Stamp Authenticator (GTS), is to help consumers ensure the enforcement and compliance of the law, so that companies do not under declare their taxes, as well as to check that right products are sold on the market.

The tax stamp are to be affixed on products like cigarettes and other tobacco products, alcoholic beverages, carbonated beverages, bottled water and any other product prescribed by the Minister.

“The essence of the tax stamp policy is to enable GRA monitor the exact quantities declared by manufactures and importers for tax purposes. The production of a fake tax stamp will, therefore, defeat the purpose of the policy,” he said.

In this respect, he added that the app would help GRA and the citizens to detect the genuineness of the stamp. The app is currently available on Google Play store but can be operated by an Android phone with at least 5.0 android capacity.

The app will help individuals to scan the stamp affixed to the product, after which information such as the product type, origin, human readable code, organisation name and metric name (volume) would appear on the phone screen.

Nevertheless, if the stamp is fake, no information will appear and such issues are to be reported to any GRA office.

He said: “Now the app to detect whether the tax stamp on the product you are consuming is authentic or not is here.”

According to him, the app was developed in-house, hence it did not add additional cost to their operation.

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