Traders who deal in beverages and related products at Kumasi in the Ashanti regional capital are predicting dwindling sales and collapse of businesses in the coming months with the passage of three major revenue bills by Parliament on Friday, March 31.
The Excise duty amendment bill which is part of these tax bills will impose 20 percent on sweetened beverages and other products.
Wholesalers and retailers who are already lamenting hikes in the prices of these products say the passage of the tax bills will push many out of business.
Some wholesalers who deals in beverage drinks and mineral water told Vision1 News that the only option to try and save their businesses is to pass the cost onto the customers.
The Ashanti Business Owners Association also shared in the plight of the traders and insisted the tax laws will affect livelihoods.
The Executive Secretary of the Ashanti Business Owners Association, Charles Appiah Kubi said it is disappointing that Parliament went ahead and passed the bills at the expense of the suffering Ghanaian business.
