AUDIO: Luxury Vehicle Levy dropped-Minister announces
Government has withdrawn the Luxury Vehicle Tax Levy.
Finance Minister Ken Ofori-Atta made the disclosure in the presentation of mid-year budget review on Monday.
The Parliament of the Republic of Ghana passed the Luxury Vehicle Levy to impose an annual levy on vehicles with high engine capacities. The implementation of this Law took effect from Wednesday, 1st August, 2018.
Vehicles with engine capacity of two thousand, nine hundred and fifty (2950) Cubic Centimeters and more were required to pay respective levies.
The Driver and Vehicle Licensing Authority (DVLA) is authorized by the Law to collect the levy on behalf of Government.
However, the levy was met with fierce rejection with some drivers holding demonstrations to call on government to withdraw the levy.
The Finance Minister in the presentation said government considered the appeals from the various stakeholders to arrive at the decision.
He has therefore appealed to parliament to approve the request to have the levy withdrawn.