Vehicle and Assets Dealers Association of Ghana has commended the decision by the Akufo-Addo government to withdraw the Luxury Vehicle Tax which was introduced last year.
The Finance Minister, Ken Ofori–Atta, in his Mid-year Budget Review in Parliament on Monday said, while the tax was introduced to raise revenue, “we have noted suggestions from the general public on the implementation of this tax.”
The Luxury Vehicle Tax targeted owners of vehicles with engine capacities of 3 litres and above.
Welcoming the move, President of the Association, Eric Kweku Boateng, said the withdrawal of the Luxury Vehicle Tax indicates that, the Akufo-Addo administration is a listening government.
“In fact, when we heard the announcement yesterday, we were full of joy and could not hold our happiness,” he said on radio.
Mr Boateng revealed over 5,000 luxury vehicles were parked in various garages across the country when government introduced the Luxury Vehicle Tax because buyers refused to buy them
He added that, those who went for loans to import their vehicles were unable to pay back and were harassed by their bankers.
Therefore the announcement has given them great relief