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.”
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