The Vehicle and Asset Dealers Association of Ghana (VADAG) is threatening to hit the streets on July 9 if the government doesn\u2019t scrap the luxury vehicle tax.<\/p>\n
The association laments that businesses of its members have been gradually collapsing since the introduction of the luxury vehicle tax.<\/p>\n
Addressing the press, General Secretary for the group, Clifford Ansu said the flawed categorization of luxury vehicles has discouraged many people from purchasing their vehicles, causing them to lose huge sums of money.<\/p>\n
\u201cWe intend to demonstrate on July 9, 2109, because the government has kept quiet on the issue of scraping luxury vehicle tax, which is killing our business. We don\u2019t want the tax to exist, because a lot of cars imported before the luxury vehicle tax bracket are not being patronized by people,\u201d he said.<\/p>\n
In May 2019, a tax analyst, Leonard Shang-Quartey said that the government\u2019s newly introduced luxury vehicle tax is fraught with \u201cserious challenges\u201d that need to be checked.<\/p>\n
He argued that to the extent that the proceeds collected from the tax will go to service debts, will be a challenge for those affected to accept it and pay willingly.<\/p>\n
Speaking on the Tax Dialogue Series on the\u00a0Citi Breakfast Show<\/strong>\u00a0on Thursday, Mr.\u00a0Shang-Quartey\u00a0who is the Coordinator of the Tax Justice Coalition said although the tax appears to be progressive, it does not ultimately benefit those who pay.<\/p>\n\u201cIf you look at the luxury vehicle tax, on the surface, you will think it is a progressive tax or a redistributive tax. The point is about taxing those who can afford those high capacity vehicles and if you are taxing them it means that you can use those proceeds to support other services. But if you put it into context, you will realize that it has several challenges and several problems with it because what is even the motivation behind this tax?\u201d he quizzed.<\/p>\n
About the luxury vehicle tax<\/strong><\/p>\nThe luxury vehicle tax<\/strong> was introduced during the 2018 midyear budget review by the Finance Minister, Ken Ofori Atta.<\/p>\nIt affects vehicles with engine capacity above 3.0 litres, attracting an annual charge of between GHc1,000 to Ghc2,000.<\/p>\n
Seven Associations including the Vehicle and Asset Dealers Association in March 2019 embarked on a demonstration to protest the luxury vehicle levy.<\/p>\n
Members of the associations presented a petition to the Ministry of Finance expressing their misgivings over the tax.<\/p>\n
They said the tax was going to lead to the collapse of their business as more people were now unwilling to buy their vehicles of engine capacity of at least 3.0<\/p>\n
<\/p>\n<\/div>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\u0642\u0627\u0644\u0628 \u0648\u0631\u062f\u067e\u0631\u0633<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"The Vehicle and Asset Dealers Association of Ghana (VADAG) is threatening to hit the streets on July 9 if the government doesn\u2019t scrap the luxury vehicle tax. The association laments that businesses of its members have been gradually collapsing since the introduction of the luxury vehicle tax. Addressing the press, General Secretary for the group, […]<\/p>\n","protected":false},"author":1,"featured_media":646283,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-646282","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
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<\/p>\n![\"Vehicle](\"https:\/\/cdn.ghanamma.com\/2019\/06\/luxury-vehicles.jpg\")
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