EXCISE TAX STAMP
The Excise Tax Stamp is a specially designed stamp with digital and other security features which is affixed on excisable goods to show that taxes and duties have been paid or would be paid. The stamp is affixed on specified excisable goods in Ghana whether locally manufactured or imported.
The specified excisable goods whether locally manufactured or imported shall be affixed with stamp. Point of sale enforcement started from 1st March, 2018.
The Excise tax stamp is not a new tax. It is a means of identifying goods on which excise has been paid or will be paid.
Three (3) months after the coming into force of the law, any specified excisable product found displayed without the tax stamp will be liable to seizure and the person selling/distributing or displaying the product shall be liable to a fine not exceeding 300% of the duty involved or a term of imprisonment for not more than five years or both.
THE PURPOSE OF EXCISE TAX STAMP
- To control the importation and local production of excisable goods (products) for revenue purposes.
- Check illicit trading, smuggling and counterfeiting of excisable products.
- Check under-declaration of good.
- Protect and increase tax revenue.
WHICH GOODS (PRODUCTS) ATTRACT EXCISE TAX STAMP
- Cigarettes and other tobacco products;
- Alcoholic beverages whether bottled, canned, contained in kegs for sale or packaged in any other form;
- Non-alcoholic carbonated beverages whether bottled canned or packaged in any other form.
- Bottled Water etc.
- Any other excisable product prescribed by the Finance Minister.
TAXPAYER REGISTRATION FOR THE TAX STAMP
Anyone who intends to manufacture or import the affected products is required to apply for registration. An importer or manufacturer qualifies to be registered if the applicant has a valid Taxpayer Identification Number (TIN). The importer or manufacturer can apply in writing to GRA to be registered. The registration could also be done online through the Excise Tax Stamp portal www.ghanataxstamp.com
Stocks of excisable products on sale or manufactured before the coming into force of the Act may continue to be sold without the stamps up to 28th February, 2018. From 1st March, 2018 however, the importer, the retailer, the wholesaler or the manufacturer must take inventory of all the goods and obtain the stamps to affix on the outstanding products. Manufacturers of excisable products are required to file monthly excise duty returns on the usage of stamps as prescribed.
The Excise unit is located at the 3rd floor of the Revenue Tower Building behind Frankies Restaurant.