The National Revenue Authority (NRA) in a press release has informed the public, especially Manufacturers, Importers, Distributors, and Retailers of excisable goods (tobacco, wine, spiritous beverages, and beer products) that the mandatory Digital Excise Tax Stamps go live on Thursday 1st February 2024.

According to the press release, part of the requirements under the Excise Stamps and Other Markings Regulations 2023, retailers of gazetted excisable products holding stock of these products without a digital tax stamp are required to return them to the manufacturer, importer, or distributor for affixing the excise stamps not later than the 15th March 2024.

The release stated that retailers who fail to affix stamps as provided for by law on products displayed for sale after the 15th of March 2024 shall face the full penalty of the law.

The Introduction of the Excise Tax Stamp by the Government is said to be geared towards the efficient collection of government revenues to support national development programs; protect the citizens from harmful and counterfeit goods; deter smuggling and create a level playing field for compliant importers and manufacturers of excisable products.