Finance Minister Ken Ofori-Atta has indicated that the luxury vehicle tax introduced last year would be reviewed in the mid-year budget review.
Speaking at a press briefing on Friday, Mr Ofori-Atta said the decision to review the tax was influenced by some stakeholder engagements.
According to the finance minister, the mid-year review would be presented before July 31 this year.
Mr Ofori-Atta introduced luxury vehicle tax last July in the government’s Mid-Year Budget Review.
The government at the time said the move was to raise more revenue by taxing the wealthy a little more.
According to the law, vehicles with engine capacities of 3.0 – 3.5 litres will attract an annual tax of GH¢1,000; those with engine capacities of 3.6 – 4.0 litres will pay GH¢1,500 annually; while 4.1 litres and above are to an annual tax of GH¢2000
myjoyonline.com