Luxury vehicle traders and owners stage demonstration against luxury vehicle tax

Luxury vehicle traders and owners stage demonstration against luxury vehicle tax

Six groups are today, Thursday, March 7 2019, demonstrating against the Luxury Vehicle Tax by driving their vehicles to the premises of the Ministry of Finance, Parliament and the Jubilee House in Accra.

The groups are Vehicle and Asset Dealers Association of Ghana, National Concerned Spare Parts Dealers Association, True Drivers Union, Concerned Drivers Association, Ghana Committed Drivers Association and Chamber of Petroleum Consumers.

Speaking in an interview on Onua FM’s Yen Sempa on Thursday morning, March 7, prior to the commencement of the demonstration, Jacob Osei Yeboah, a consultant to the coalition, said the group made series of efforts to meet the Finance Minister and the Parliamentary Select Committee on Trade and Industry but they never paid attention to them.

Luxury vehicle traders and owners stage demonstration against luxury vehicle tax

Luxury vehicle traders and owners stage demonstration against luxury vehicle tax Source: UGC
Source: UGC

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The coalition of groups had planned to hit the streets with 2,000 vehicles but an Accra Circuit Court ordered them to use 40 vehicles to avert heavy vehicular traffic in Accra.

He said since the inception of the law, vehicles with engine capacity of over 2.8l were not being purchased from those who sold such vehicles in the country.

Mr. Osei Yeboah said spare parts of such vehicles were not being purchased either and attributed it to the fall of the Cedi against the US dollar.

The consultant noted that customers of defunct Menzgold have also decided to join the demonstration because of what they have gone through at the hands of the government.

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The demonstration is as a result of Minister of Finance Ken Ofori Atta’s mid-2018 budget review, which imposed a luxury vehicle import tax as part of a new policy to help raise more revenue.

The implementation of the Luxury Vehicle Law commenced August 1, 2018, after Parliament passed it.

An annual levy on vehicles with high engine capacities was consequently imposed after it was proposed by the government.

With the approval of the legislators for its implementation, vehicles with engine capacity of 2,950 to 3,549 cubic centimetres were required to pay a levy of GH¢1,000, while those with engines between 3,550 to 4,049 cubic centimetres would pay GH¢1,500.Vehicles with engine capacities above 4,049 cubic centimetres are also obliged to pay GH¢2,000.

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Source: Yen.com.gh

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