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Parliament approves removal of Luxury Vehicles Tax.

Parliament has passed the Luxury Vehicle Levy (Repeal) Bill, to scrap the taxes on luxury vehicles introduced by government last year.

The move gives effect to one of the policy measure announced in the Mid-year review by Finance Minister, Ken Ofori-Atta on Monday.

The Finance Minister in his Mid-year review presentation to Parliament in 2018,introduced the tax which mandated owners of luxury vehicles with engine capacities of 3 litres or more, to pay an annual tax on their vehicles.

However, the implementation gave rise to series of protests by owners and dealers in vehicles with engine capacity of 3.0 and beyond.

Earlier this week, Mr Ofori-Atta told Parliament, government had “noted suggestions from the general public on the implementation of this tax” and proposed its withdrawal only a year after implementation.

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