News
Ghana introduces tax on luxury vehicles
Ghana has imposed introduced a tax on luxury vehicles and the collection of the taxes would commence on Wednesday , ( today ) , August 1 .
According to a statement issued by the Ghana Revenue Authority , the taxes will only affect cars with engine capacity above 2950 or 3 . 0 and above, reports Citinewsroom .
The new tax initiative states that vehicles with engine capacity of 2950 to 3549 capacity will pay GHS 1 , 000 ( $ 208 ) while vehicles with engine capacity of 3550 to 4049 will pay GHS 1 , 500 ( $ 312 ) .
Engine capacity above 4049 will pay GHS 2 , 000 ( $ 417 ) .
The tax was introduced to boost revenue in the nation and government is expected to raise about GHS 300 million from the policy.
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