The Ghana Plastic Manufacturers Association (GPMA) has issued a stark ultimatum to the government, demanding the suspension of the newly introduced 5% Excise Tax on locally manufactured plastic products. The Association warns of a potential industry-wide shut down if their demands are not met within one week. At a press conference, President of the GPMA
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The Ghana Plastic Manufacturers Association (GPMA) has issued a stark ultimatum to the government, demanding the suspension of the newly introduced 5% Excise Tax on locally manufactured plastic products.
The Association warns of a potential industry-wide shut down if their demands are not met within one week.
At a press conference, President of the GPMA Ebo Botwe criticized the Ghana Revenue Authority (GRA) for enforcing the tax without proper consultation or response from the Ministry of Finance.
They highlighted the economic strain this tax would impose, noting that plastic packaging is integral to numerous industries, including food and beverage, pharmaceuticals, and agriculture.
“The impact of this tax will cascade through the economy, leading to higher costs for consumers and potential job losses,” stated a GPMA Ebo Botwe.
The group is further calling on Vice President, Dr Bawumia to intervene.
“We urge the Vice President to intervene and address our concerns promptly,” he said.
The GPMA also noted that some plastic companies have already relocated to Ivory Coast, where lower taxes and stable foreign exchange rates provide a more favorable business environment.
By Noble Crosby Annan
The post Plastic manufacturers threaten shutdown over 5% excise tax first appeared on 3News.
