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General News Wed, 1 Aug 2018

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Car dealers to march over luxury tax

The Vehicle and Assets Dealers Association of Ghana has served notice that its members will soon demonstrate against the implementation of the recently-introduced luxury car tax.

President of the Association, Eric Kweku Boateng, said the tax is not good for the country.

He told Chief Jerry Forson on Ghana Yensom on Accra 100.5FM on Wednesday, 1 August that: “We want the government to withdraw the tax or we will demonstrate.”

“The tax will affect our businesses negatively,” he added.

The collection of the recently-announced and passed luxury vehicle tax started on Wednesday.

An annual levy will be imposed on vehicles with high engine capacity of 2950 cubic centimetres and more.

The levy is as follows:

2950cc – 3549cc GH¢1,000

3550cc – 4049cc GH¢1,500

Above 4049cc GH¢2,000

The GRA, in a statement, said the levy shall be paid on the registration of vehicles and subsequently on or before the annual renewal of the roadworthy certificate of such vehicles, with engine capacities as listed above.

The levy is also imposed on vehicles existing prior to the passage of the law with the above-listed cubic centimetres.

Vehicles whose roadworthiness certificates have already been renewed prior to the passage of this law in 2018, will pay the levy starting from their next renewal date in 2019.

The following categories of vehicles are, however, exempt from the levy: Tractors; ambulances; commercial vehicles that have the capacity to transport more than 10 persons; commercial vehicles for the transport of goods; other exemptions as may be prescribed by the Minister responsible for Finance.



Source: Class FM

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