Dialogue for textile tax stamps begins June

Government will, from 1 June 2018, engage players in the textile industry on the implementation of the tax stamp on all textiles brought into the Ghanaian market...


Government will, from 1 June 2018, engage players in the textile industry on the implementation of the tax stamp on all textiles brought into the Ghanaian market.

This follows an agreement reached between major players in the textile industry and government.

The issue of fake and pirated textiles is one of the major issues bothering the textile industry which is said to be collapsing the business of retailers.

In a bid to address these challenges, Trade and Industry Minister Alan Kwerematen, said the introduction of the tax stamp is to regulate and also bring sanity into the industry.

Speaking at an engagement with members of the Industrial and Commercial Workers Union (ICU) and local textile unions in Accra on Wednesday, 23 May 2018, Mr Kyerematen said: “The registration of tax stamps has already been launched and currently it is operational. Now, we’ve agreed among ourselves that beginning from 1 June 2018, the Ministry of Finance will start engaging all the industry players on the introduction of this tax stamp in the textile sector.

“So that’s the first substantive agreement that we’ve come to. We believe that apart from making sure that government also earns the revenue that it deserves from the textiles, it will also be one of the most significant measures introduced for us to be able to regulate the trade in this sector particularly in the markets in the retail sector.”

Source: Ghana/ClassFMonline.com/91.3FM



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