Reps moves to reduce levies on commercial vehicles from 35% to 15%

The House of Representatives has moved to the levies on commercial vehicles, especially buses and trucks from 35% to 15%, Daily Times gathered.

The House also directed the federal government to effect the reduction of vehicle importation levy on luxurious vehicles to 20% from the original 35%.

According to the Auto policy of the federal government, the importation of vehicles attracts 35% duties and another 35% levy bringing the total charges to 70%. With this directive, total charges on the importation of vehicles will be 50% and 55% for commercial vehicles and luxurious vehicles respectively.

The decision was taken following the adoption of the recommendations of the House committees on Finance, Appropriations, and National Planning and Economic Development on the 2021–2023 Medium Term Expenditure Framework
(MF) and Fiscal Strategy Paper (FSP) by the committee on supply.

“On Auto Policy, the Committee recommends a downward review of the commercial vehicles levy imposed on Imported Vicles to 15% and 20% on both Commercial Vehicles (Buses and Trucks) and Luxury Vehicles respectively.”

Following deliberations on the report, the House passed the MTEF.

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