BUSINESS

Luxury Vehicles Levy Takes Effect Today; After GRA’s Implementation


As Parliament over the weekend passed the bill on Luxury Vehicles Levy, the Ghana Revenue Authority (GRA) also took steps to implement the Levy which is set to take effect from today.

The levy imposes an annual levy on vehicles with high engine capacities.

A press statement issued by the Commissioner General of the Authority, indicates that the implementation of the Levy takes effect from today Wednesday, August 1, 2018.

The Levy affects vehicles with engine capacity of two thousand, nine hundred and fifty (2950) Cubic Centimeters and more.

Owners of such vehicles are required to pay the following levies:

  • Cars with engine capacity from 2950cc to 3549cc are to pay GHC 1000
  • Cars with engine capacity from 3550cc to 4049cc are to pay GHC 1500.
  • Cars with engine capacity above 4049cc are to pay GHC 2000.

According to the statement, 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 levy also applies to vehicles of the afore-mentioned engine capacities existing prior to the passage of the
Law.

The Authority has indicated that vehicles whose road worthiness certificates have already been renewed prior to the passage of this Law in 2018 will pay the levy starting from their next renewal date in 2019.

 

Exclusively Newslinegh

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