The Plastic Sellers Association of Ghana has threatened to demonstrate across the country if the government fails to withdraw the proposed 5% excise tax on plastics. The new tax, they say, will collapse their businesses. Plastic products used to be some of the cheapest commodities on the market. However, increases in taxes and the cedi
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The Plastic Sellers Association of Ghana has threatened to demonstrate across the country if the government fails to withdraw the proposed 5% excise tax on plastics.
The new tax, they say, will collapse their businesses.
Plastic products used to be some of the cheapest commodities on the market.
However, increases in taxes and the cedi volatility consistently have resulted in the prices of the products being on the rise.
Wholesalers and retailers are unhappy about the proposed 5% excise tax on the products. Some of the plastic wholesalers complained that business has slowed down due to the constant increase in prices of plastic products.
This, they say, has been attributed to high duty on imported plastic products.
“The plastic business is on the verge of collapse if the government refuses to intervene,” one of them said.
Speaking to the Board Chairman of the Association, Rev Ohene Adjei, he said he cannot come to terms with the imposition of the 5% tax.
He said their members are already taxed and they can no longer bear any additional taxes.
One of members of the Plastic Sellers Association, Margaret Adjei, recounted that plastic products are used in every household and the prices have to be cheap for all.
She indicated that the startup capital for the business is low, and the sector is employing a lot more of people.
Some of the retailers say government is insensitive to their plight and wants to collapse their business.
They pleaded that much effort should be invested in the sector to address price instability.
Earlier, the Ghana Plastic Manufacturers Association warned of a potential industry-wide shutdown if the tax is not suspended within one week.
“We cannot continue to lose out investment capital through taxes and duties,” they complained.
The group is also raising alarm over the severe economic consequences that could arise from the new tax.
BY KINGSLEY ADUSEI-AMAKYE ONUA TV/3NEWS
The post Plastic sellers threaten to demonstrate if government does not withdraw 5% excise tax first appeared on 3News.
