Minister for Finance, Ken Ofori Atta has indicated that the tax on luxurious cars introduced last year would undergo review in the 2019 mid year review.

He made the statement while speaking to the press earlier today, adding that the decision to review the tax was was raised after  by some stakeholder engagements.

According to him, the mid-year review would be presented before July 31 this year.

Mr Ofori-Atta introduced luxury vehicle tax last July in the government’s Mid-Year Budget Review.

The government at the time said the move was to raise more revenue by taxing the wealthy a little more.

According to the law, vehicles with engine capacities of 3.0 – 3.5 litres will attract an annual tax of  GH¢1,000; those with engine capacities of 3.6 – 4.0 litres will pay GH¢1,500 annually; while 4.1 litres and above are to an annual tax of GH¢2000.