The Food and Beverages Association of Ghana (FABAG) has revealed how they are going to deal with the new 20 percent tax imposed on beverages by the government.
According to FABAG, who are advocating for the removal of the 20% exercise tax imposed on soft drinks, spirits, and water, the tax would make their operations difficult, hence the need to scrap it.
They hinted that they would transfer the twenty percent tax slapped on beverages to customers, as they, as producers, cannot afford to bear that cost.
The Excise Duty Amendment Bill, which is part of three tax bills passed by Parliament in April 2023, imposed a 20 percent tax on sweetened beverages and other products.
“Parliament said the Finance Minister has introduced a new 20 percent tax on excise duty, and this will result in an increase in the prices of beverage products because the producer cannot bear the cost and will have to let the consumer pay it,” FABAG said as aired on Rainbow Radio Accra.
By: Joel Eshun/Rainbowradioonline.com/Ghana
