Finance Minister, Ofori Atta, has announced government’s decision to impose between GHS1000 and GHS2000 tax on all imported luxurious cars with 3.0 litres engine capacity.
He said this while presenting the 2018 mid-year budget review in Parliament, Thursday July 19th 2018.
He, however, stated that commercials vehicles will be exempted.
“On the under-performance for the first five months of 2018, we will end the year with an estimated deficit of 4.9% of GDP compared to the programmed target of 4.5%, resulting in a fiscal gap of GHS870 million, unless we immediately implement some fiscal measures; intensive tax compliance measures, New revenue measures, Intensive Conversion of NHIL (2.5%) to a straight levy, Conversion of GETFund VAT rate of 2.5% to a straight levy, Imposition of luxury vehicle tax of GHS1,000 – GHS2,000 on non-commercial vehicles with capacity of 3.0 litres and above, review of PIT to include an additional band of GHS10,000 and above per month at a rate of 35% and downward adjustment discretionary expenditures”, he said.
Ghana | atinkaonline.com