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Luxury Vehicle Tax: Gov’t bows to pressure; Announces plans of review

The Ministry of Finance has announced plans to review the luxury vehicle tax in the mid-year budget.

The levy which was introduced by the government in August 2018 specifically for vehicles with engine capacity of 3.0 litres and above are charged with fees from GHS 1000.

The law has been criticised by car dealers and Vehicle importers who argue the introduction of the tax has shot up the cost of doing business.

Speaking at a press briefing on Friday, Mr Ofori-Atta assured that government has listen to the concerns of the Ghanaian public and will make the changes to the law in the mid-year budget.

“…We did go through a lot of stakeholder discussions before that occurred and so are  almost coming to a year of implementation and looking and therefore as to how we would look to review it so that concerns are taken care of, but the law is there and I believe is a good law.

According to the finance minister, the mid-year review would be presented before July 31 this year.

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