Car dealers welcome withdrawal of luxury vehicle tax
DEALERS in luxury vehicles in Accra have welcomed the government’s decision to suspend the luxury vehicle tax, saying it will help revive their business which went under for almost the one year that the tax was introduced. According to the car dealers, the tax took a heavy toll on their businesses when it was implemented such that sale of vehicles with engine capacities ranging from 3.0 – 4.1 litres and above dropped drastically, leaving the vehicles displayed at their various sales point as show pieces. On July 29, Mr Ken Ofori-Atta, the Minister of Finance, announced the suspension of the luxury vehicle tax introduced a year ago. The tax levied vehicles with big engine capacities in line with the Sustainable Development Goals with the aim of controlling emissions and reducing the negative impact on the climate. Even though luxury vehicle dealers have welcomed the latest decision by the government, they say nonetheless that it was ‘problematic’ right from i...