Luxury vehicle levy implementation begins today

The implementation of the luxury vehicle levy law will begin today Wednesday, August 1, 2018, a statement from the Ghana Revenue Authority and copied to the Ghana News Agency in Accra on Tuesday has said.

Parliament passed the Luxury Vehicle Levy to impose an annual levy on vehicles with high engine capacities.

Vehicles with engine capacity of 2950 to 3549 Cubic Centimetres will be required to pay a levy of GH¢1,000.00, those between 3,550 to 4049 cubic centimetres pay GH¢1,500.00 while above 4049cc the levy stands at GH¢2,000.00.

The statement said the Driver and Vehicle Licensing Authority (DVLA) is authorized by the Law to collect the levy on behalf of Government.

“With effect from Wednesday, 1st August, 2018, the levy shall be paid on the registration of vehicles and subsequently on or before the annual renewal of the roadworthy certificate of such vehicles,” the statement signed by the Commissioner General, GRA, said.

The levy is also imposed on vehicles with the listed cubic centimetres existing prior to the passage of the Law.

The statement said vehicles whose road worthiness certificates had already been renewed prior to the passage of the Law in 2018 will pay the levy starting from their next renewal date in 2019.

However, the following categories of vehicles are exempt from the levy tractors; ambulances; commercial vehicles that have the capacity to transport more than ten persons; commercial vehicles for the transport of goods; and other exemptions as may be prescribed by the Minister responsible for Finance.

Source: GNA