General News Mon, 29 Jul 2019

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Government announces withdrawal of 'controversial' luxury vehicle levy

Government has announced the withdrawal of the controversial luxury vehicle levy.

Finance Minister, Ken Ofori-Atta, who is presenting the 2019 Mid-Year Budget Review in Parliament, made the announcement.

The Luxury Vehicle Tax was proposed in 2018 with the aim of raising more revenue by taxing the wealthy a little more.

Vehicles with engine capacities of 3.0 – 3.5 litres were to attract an annual tax of 1,000 Ghana cedis.

Those with engine capacities of 3.6 – 4.0 litres were pay 1,500 cedis annually; while 4.1 litres and above are to an annual tax of GH¢ 2000.

The public outcry over the tax and the Finance Minister says the Akufo-Addo’s Government, being a listening government has decided to withdraw the levy.

Source: dailyguidenetwork.com

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