Home / Uncategorized / GOVERNMENT TO SCRAP LUXURY TAX- MR KEN OFORI-ATTA

GOVERNMENT TO SCRAP LUXURY TAX- MR KEN OFORI-ATTA

The Government has announced plans to withdraw the luxury vehicle tax which was introduced before parliament in March 2018, by the Finance Minister, Mr Ken Ofori-Atta.

The introduction of the tax requires vehicles with engine capacity of 2950 to 3549 Cubic Centimeters to pay a levy of GH¢1,000, while those with engines between 3,550 to 4049 cubic centimetres, would pay GH¢1,500.

The Coalition of dealers and owners of luxury cars have protested against the tax, which commenced on August 1, after Parliament passed it to impose an annual levy on vehicles with high engine capacities after it was proposed by the government.

The Finance Minister, presenting the 2019 Mid-year budget review at the Parliament House in Accra, on Monday, disclosed that the government was considering measures to scrapped off the tax.

He said the government was a listening government, saying “We are proposing to the house, the withdrawal of the levy.”

“Government in 2018 introduced the Luxury Vehicles Levy to raise revenue. We have noted suggestions from the general public on the implementation of this tax and Mr Speaker, as a listening Government, we are proposing to the House the withdrawal of the levy. We will continue to improve compliance, expand the tax net and explore other innovative sources of raising revenue,” Hon. Ofori-Atta said.

Story By: Isaac Otoo

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