The Minister of Trade and Industry, Alan Kyerematen has said the newly launched textile tax stamps policy will not lead to the imposition of additional levies on textiles.
According to the minister, the policy is intended to address the persistent problem of pirated textiles which is crippling the sector.
Kyerematen, who disclosed this at the launch of the tax stamp in Accra, said the stamp policy alongside other measures that have been instituted by the government will help to strengthen the sector and create jobs.
“They are not intended to add to the prices or the cost of textile prints in the market and they are also designed not to create difficulty for those who were engaged in the textile retail and wholesale trade. Because as we have explained, it is the introduction of these measures, particularly the textile that would ensure that we sanitise the retail trade in textile print.”
“So we are very confident and remember that we’ve been having stakeholder consultations on the introduction of these policy measures for over four to five years.”
“We started engaging with stakeholders from 2018, and gradually we’ve come to a point where we’ve officially now out-doored the policy. But in terms of implementation, we’ve given ourselves up to 1 March for enforcement or compliance with the policy measures.
Speaking to the media on the sidelines of the launch, the head Excise Division at the Ghana Revenue Authority, Kwabena Apau Anto urged all players within the textile value chain to take advantage of the policy and help to strengthen the sector.
Listen to Alan Kyerematen in the attached audio clip below:
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