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Excise Tax Stamp Bottled water producers to cease operations

The President of the National Association of Sachet and Packaged Water Producers, Magnus Nunoo said they may be forced to stop operation due to excise tax stamp.

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The National Association of Sachet and Packaged Water Producers has reiterated that the implementation of excise tax stamp will cause serious challenges that may cause them to stop their operations.

In an interview with Accra-based Citi FM, the President of the National Association of Sachet and Packaged Water Producers, Magnus Nunoo said that none of the members have been able to acquire the affixing stamp machines, some of which cost about 100,000 dollars.

The excise tax stamp was passed in 2013 to check revenue leakages in the beverage and water bottling industry, among others.

READ ALSO: Fuel prices to go down – IES

The law was not used until the government announced its implementation tomorrow, 1st March.

Mr Nunoo said that the only alternative is for all water producers to take their products to the Tema Port where one of the machines is located for the stamps to be embossed on it.

“This is exactly what we were telling the government and they refused to listen to us. How can all water producers transport their bottled water to the Tema Port for the stamp to be put on it?” he queried.

READ ALSO: Market women beg Nana Addo to tone down the English; they can't understand

He concluded that the development will only force the bottled water producers to stop operations from today (March 1, 2019).

“On the eve of the enforcement of the tax stamp, it was confirmed that none of the member companies of the association have been able to acquire the tax affixing machines at the moment,” Mr Nunoo said.

“It was also agreed that all bottled water companies will meet on Monday, March 5th, 2018 to assess the impact of the current situation on our companies and decide on possible shutdown if found necessary,” he added.

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