Vehicles with engine capacities of two thousand, nine hundred and fifty (2950) Cubic Centimeters and more will from August 1 pay a newly introduced Luxury Vehicle Levy at the Driver and Vehicle Licensing Authority (DVLA).
Payment of the levy is expected to be made on the registration of vehicles and subsequently on or before the annual renewal of the roadworthy certificate.
Finance Minister, Ken Ofori Atta announced in Parliament during the 2018 mid-year budget review that government will impose a new tax on luxury vehicle to raise more revenue for the state.
A statement from the Ghana Revenue Authority dated July 30, shows that the levy has been approved by Parliament to take effect.
“The Parliament of the Republic of Ghana has passed the Luxury Vehicle Levy to impose an annual levy on vehicles with high engine capacities. The implementation of this law takes effect from Wednesday,” it said.
The new levy ranges from 1,000 to 2,000 cedis applicable to vehicles with engine capacities of 2950cc-3549cc onwards. The table below provides the detailed levy schedule:
No. | ENGINE CAPACITY (CC) | Levy (GH¢) |
1 | 2950cc – 3549cc | GH¢1,000 |
2 | 3550cc – 4049cc | GH¢1,500 |
3 | Above 4049cc | GH¢2,000 |
The Ghana Revenue Authority has thus directed the Driver and Vehicle Licensing Authority (DVLA) to take the levy on behalf of the government of Ghana.
Tractors, ambulances, commercial vehicles that have the capacity to transport more than ten persons, commercial vehicles for the transport of goods as well as other unspecified vehicles the finance minister deems fit, are however exempted from new the levy.
Read: Trotros exempted from Luxury Vehicle Levy
Meanwhile, vehicles whose road worthiness 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.
By 3news.com|Ghana
The post Luxury vehicles slapped with levy beginning August 1 appeared first on 3newsgh.
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