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The government has decided to abolish the payment of additional motor vehicle licence duty in respect of an existing motor vehicle licence where there is an increase or variation of the rates.
Amendments to the Road Traffic Act, which was passed in the House of Representatives on Tuesday, October 26, will give effect to this decision.
Piloting the Bill, Minister of Finance and Planning, Dr. Omar Davies, explained that, “Prior to 1964, the duties were payable on the first day of April of each year and hence, any increases would be with effect from the first day of April and all payments would have been made.with the increase in the number of vehicles and collectorates became crowded in April, the Act had been amended, allowing for periodic payments.”
Elaborating, Dr. Davies informed that the Act had been further amended in 1967 to make the distinction between an existing licence, being a licence issued, which had not expired on the date fixed for the variation of the licence duty and the remaining period, being that part of the licence which remains after the date of the variation. “In other words, even if you had paid for a year and the rates were changed, then you would only be given credit for the point up to which the rates were changed,” he said.
Describing this amendment as one that was overdue, the Finance Minister stated, “What we are seeking to do with this amendment is repeal the provision related to the payment of the additional motor vehicle licence duty regarding the existing period when there has been an increase or variation of the duty rate.”