Traders in Kumasi express concern as new taxes kick in
Some traders in the Kumasi metropolis say trading activities are picking up slowly days after new taxes came into effect.
The traders insist the introduction of the new taxes will further increase the cost of doing business.
Traders who sell beverages and bottled water are accusing some wholesalers of intentionally creating artificial shortages of some products as a means of adjusting prices to reflect the new tax measures.
The traders say customers are opposed to new prices of products that have increased following the implementation of the taxes.
The Excise Duty Amendment Bill will impose 20 percent on sweetened beverages and other products.
Adusei Poku who takes products from these wholesalers and supplies other retailers within the Kumasi metropolis lamented that the increased prices will affect his business.
“The increased prices of the products are worrying. We take the products and supply them to the retailers, and they complain about the price hikes. If it will be possible the manufacturers should print out and attach the prices when they are bringing in the products.”
The Ashanti Regional branch of the Ghana Union Traders Association says its members will have no option but to pass on the cost to consumers if the Government does not intervene.
“When somebody is going to pay 5 percent on his gross and when somebody is paying 2.5 percent on his gross, it will not be absorbed by the business entity itself, it will be passed on to the consumer.”
Source: Ghana Business
