BOOTLEG GOODS IN GHANA

In the past five years, the selling of fake products has increased as compared to the selling of authentic products. As of 2023, the purchase of bootleg products has increased by $487.6 billion worldwide.  

 

Pricing is a main factor of purchasing bootleg products. The original price of a genuine Hermes bag can range from thousands to tens of thousands of dollars, while a fake one may be significantly cheaper. Most people prefer to buy bootleg products due to economic hardship because these products cost lesser than the original product to save up some money.

 

Speaking to Mr Arthur Barnes Cyril, a GRA personnel he explained there are tax invasion on bootleg goods because they are the “black market”. These are goods that are smuggled or did not go through the right process or channels for government to tax them.

 

The bootleg product affects our local authorities because there are not enough factories. The local factories cannot compete with smuggled products which comes in  at a cheap price. He therefore advice entrepreneurs to import formally, pay taxes and sell instead of setting up factories and giving employment to others.

 

 

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