The Food and Beverages Association of Ghana (FABAG) will pass on the 20% tax on beverages to customers, as they believe it will negatively impact their businesses. They are advocating for the removal of the tax and are calling on the government to find other ways to generate revenue. FABAG also opposes the proposed Import Restrictions Bill, stating that the government should focus on boosting local production instead of implementing an outright ban on certain goods.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
The Food and Beverages Association of Ghana (FABAG) says it will transfer the twenty percent tax slapped on beverages to customers. FABAG has been advocating for the removal of the 20% exercise tax imposed on soft drinks, spirits, and water. The Excise Duty Amendment bill which is part of three tax bills passed by Parliament in April 2023 imposed 20 percent tax on sweetened beverages and other products. The Association says the taxes will negatively impact their businesses, which are already reeling under the current economic conditions. In an interview with Citi News, the General Secretary of FABAG, Samuel Aggrey, said the government should find other means to generate revenue rather than overburdening businesses. “It is the government pushing all these prices, and therefore the only option is to pass it on to the consumers. When consumers are burdened with more taxes, they may eventually refuse to buy, disrupting the entire supply chain and posing a challenge of habitual price ...
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes.
To learn more about our cookies, please read our Privacy Policy.