Vision1 FM                       Light FM                         Light TV

Gov’t imposes new tax on luxury vehicles

Government is set to introduce a new levy on vehicles with engine capacities of 3.0 litres and above.

 

 

This imposition of the new levy will be known as a luxury vehicle tax.

 

The levy, according to government will be paid on first registration and subsequently annually during renewal.

 

This was made known by the Finance Minister Ken Ofori-Atta during the presentation of the mid-year budget review.

 

“Government proposes to introduce a luxury vehicle levy on vehicles with engine capacities of 3.0 liters and above. The levy will be paid on first registration and subsequently at annual renewal,” he said.

 

The Minority Spokesperson on Finance, Cassiel Ato Forson at a Minority Mid-Year budget roundtable had hinted that government will in the mid-year budget review announce excise tax on luxury vehicles (10 % on vehicles with engine capacity above 3.5 capacity).

He had also revealed an increase in the communications service tax (from 6% to up to 12%) and the re-introduction of VAT on financial services which was scrapped in the 2017 budget.

 

Mr. Ofori-Atta however assured that commercial vehicles will not be included in the levy.

 

“Commercial vehicles will be exempted from this policy.”

 

Already, some have questioned the policy explaining that such cars are already paying huge taxes upon importation, and are also forced to drive on bad roads.

 

Car owners and importers are already divided over the policy.

More Lifestyle..

Asante Kotoko leave for Ethiopia today Asante Kotoko leave for Ethiopia today 2018-12-11 - Asante Kotoko will fly out to Ethiopia en route to Kenya today...
Under 1D1F 79 factories have been implemented so far – Akufo-Addo Under 1D1F 79 factories have been implemented so far  – Akufo-Addo 2018-12-10 - President Nana Akufo-Addo has communicate happiness about the...
Takoradi port terminal project begins in 2019 Takoradi port terminal project begins in 2019 2018-12-04 - IBISTEK Limited will in January, 2019 commence work on the development...
Vodafone Ghana enhances customer care service for speech and hearing impaired. Vodafone Ghana enhances customer care service for speech and hearing impaired. 2018-12-04 - Tele Communication network, Vodafone Ghana has enhanced its ...
Ghana to meet revenue target in mineral export Ghana to meet revenue target in mineral export 2018-12-03 - Ghana exported nearly $5.8 billion worth of minerals as of the...

 

More News..

Drone approved by Parliament Drone approved by Parliament 2018-12-11 - Parliament on Tuesday approved the controversial Drone Delivery...
Asante Kotoko leave for Ethiopia today Asante Kotoko leave for Ethiopia today 2018-12-11 - Asante Kotoko will fly out to Ethiopia en route to Kenya today...
I am not divorced - Akua GMB I am not divorced - Akua GMB 2018-12-11 - The fourth wife of the Chief Executive Officer (CEO) of the Angel...
Diaper making factory has been commissioned by President Nana Akuffo Addo under 1D1F. Diaper making factory has been commissioned by President Nana Akuffo Addo under 1D1F. 2018-12-11 - President Nana Akufo-Addo, has commissioned the Sunda Ghana Diaper...
Wontumi to sponsor NDC presidential primaries because of Mahama. Wontumi to sponsor NDC presidential primaries because of Mahama. 2018-12-10 - The Ashanti Regional Chairman of the New PatrioticParty (NPP),...
New mining policy to be announced by Gov't on Friday 14 December. New mining policy to be announced by Gov't on Friday 14 December. 2018-12-10 - Government will on Friday 14 December 2018, announce a new policy...