Ghana Extends Tax Stamps to Refined Edible Oils

Ghana’s Minister of Finance, Dr Cassiel Ato Forson, has announced the introduction of a tax stamp regime on refined edible oils, modelled after the stamps used in the beverage industry.

‘This will eliminate smuggling and under-declaration, ensure fair taxation, and protect domestic producers,’ said Dr Forson, adding that the regime will not only help Ghana achieve self-sufficiency but also build an export-ready downstream crude palm oil sector.

Under the new regime, the Tree Crops Development Authority will serve as lead regulator, overseeing licensing, production planning, and data management.

Ghana has been using tax stamps since 2018, when it launched them on tobacco products, wine, spirits, beer, soft drinks and water. The launch was accompanied by strict enforcement measures, which saw Ghana Revenue Authority (GRA) officials forbidding drinks manufacturers from dispatching goods without the requisite stamps, as well as conducting raids on retail outlets to remove unstamped products from the shelves.