In a statement issued by the GRA, it stated that the taxes will only affect cars with engine capacity above 2950.
The statement further said that vehicles with an engine capacity of 2950 to 3549 capacity will pay GHS1,000 cedis while vehicles with engine capacity of 3550 to 4049 will pay GHS1,500.
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Engine capacity above 4049 will pay GHS2,000 cedis.
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He explained that the government intends to improve revenue mobilization through the policy.
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Meanwhile, the government is expected to raise about GHS300 million from the taxes on luxury vehicles.
Some economists are have expressed optimism that the government will meet the target since it already has a database of such vehicles.
