Ghana recently introduced the tax stamp policy for locally-manufactured textiles to ensure quality of products and also have their taxes paid before they enter market. This was announced by finance minister Ken Ofori-Atta during the 2019 budget hearing recently. Tax stamps are stickers with security features affixed on products before market release.
The step will check the influx of fake Chinese imitations and smuggling which is killing the textile industry, Ghanaian media reports quoted Ofori-Atta as saying.Ghana recently introduced the tax stamp policy for locally-manufactured textiles to ensure quality of products and also have their taxes paid before they enter market. This was announced by finance minister Ken Ofori-Atta during the 2019 budget hearing recently. Tax stamps are stickers with security features affixed on products before market release.#
Further, to make the industry competitive, the government will not impose value-added tax on locally-made textiles for three years, he added. (DS)
Fibre2Fashion News Desk – India
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