Finance Minister, Ken Ofori-Atta has disclosed that all luxury cars in the country will be attracting tax to meet fiscal deficit target.
He said this while presenting the mid-year budget review in Parliament, Thursday.
According to him, "we are converting the NHIS 2.5% to a straight levy of 2.5%; Converting GETFUND of 2.5% to the straight levy of 2.5%. VAT will thus be maintained at 12.5%..." adding, there wll be an "imposition of luxury vehicle tax of GHS1,000 – GHS2,000 on non-commercial vehicles with capacity of 3.0 litres and above.”
Source: Peacefmonline.com
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I cant believe this. What an incompetent finance minister? Why wont you reduce the size of your government?
This is great. The rich who usually don't vote will pay tax.
Confused man, chew and pour minister, tweaaa