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RADP / Pulse Ghana  >  news  >  business

Here is how much you will pay for luxury vehicle tax

Magdalene Teiko Larnyoh

In a statement issued by the Ghana Revenue Authority (GRA) it said that this particular tax will affect cars with engine capacity above 2950.

In a statement issued by the Ghana Revenue Authority (GRA) it said that this particular tax will affect cars with engine capacity above 2950.

Below are the amounts to be paid;

• Engine capacity of 2950 to 3549 capacity will pay GHS1, 000.

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• Engine capacity of 3550 to 4049 will pay GHS1, 500.

• Engine capacity above 4049 will pay GHS2, 000.

The luxury vehicle tax was announced when the Finance Minister presented the 2018 mid-year budget review to Parliament.

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.

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Magdalene Teiko Larnyoh Magdalene Teiko Larnyoh A feminist at heart and a lover of art. She loves to write on business, politics and health.

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