Luxury Vehicle Tax Is An Excellent Policy: Finance Minister Had A Deep Thought
Many will condemn the policy of taxing vehicles with higher engine capacities, but I think otherwise.
What is the land size of Ghana, Just 233,000km square, the longest distance one can cover in a Ghana is from Accra to Bawku which is not above 782km, meaning with an average car like a Toyota Corolla, which moves at a higher speed of 200km per Hour, one can use barely 4hours to travel the longest Journey, so why the need for big engines?.
We find unaccountable and unrealistic ways to waste Money yet when a little is to be taken from one's luxurious lifestyle to support development of the economy, we cry foul, the countries you travel to, England, Germany, USA used taxes like these to better their economy, we have given goods which are necessary to man, we know a car is needed to support your daily activities but is it just a car or a luxurious car?
Ghana is Just 62years Old, have you bothered to Ask how old the USA is? It is over 250years old as for England the least said the better, yet we compare ourselves with them, aren't we lost, people in those countries don't even prioritize Such vehicles, they only push them here.
The policy though it didn't meet the minimum revenue target should continue, people are only resisting it temporally, they'll bring themselves.
Residents of Burkina Faso have a policy that tax people with expensive mansions, assets this has reduced corruption in the country as people get frustrated to even live a luxurious life.
Taxes should be kept on executive things like Heavy mansions built by citizens, Cars and rather removed from business loans and reduced drastically from Ghanaian businesses.
The other policy I admired was the Tax on Salaries above Ghc10,000, it was fantastic till some big heads in Ghana manoeuvred their way into changing it. The 35% tax on such salaries is called for. Most citizens within that range hardly pay for certain things like fuel because they use coupons, electricity, Houses, Lodge in Hostels, take allowances etc so how come the poor are taxed through street light levies on electricity bills, through fuel and yet the rich can forgo such tax yet enjoy huge bonuses.
When institutions do well let them know.
By: Tuorimuo Elvis Philip
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