Automobile Stamp Duty collection: Taxation department begins month-long campaign

 

The Ministry of Finance has launched the second campaign to ensure payment of automobile stamp duty.


To reinforce the month long campaign to collect State revenue for the 2019 fiscal year (July 1st-31st) , mix controls teams shall be deployed on streets and highways for verification .

The provisions of section 598 of the General Tax Code endows insurance companies with the exclusive rights to make the collection that’s usually paid alongside the subscription or renewal of the civil liability insurance policy.

The Minister of Finance therefore exhorts all car owners to pay the automobile stamp duties at their respective Insurance companies.

State Revenue : The automobile stamps duty

 

At the Taxation department – Ministry of Finance, officials say vehicle owners in a nutshell, have been in compliance with the regulations.

But at some Insurance companies, brockers do not share the same degree of optimism.

They state that some recalcitrant vehicle owners are still playing the hide and seek game.

Most of them have been plying the roads for the past six months without a valid automobile stamp duty.

They presume that
the defaulters will have their cars parked during the period of the campaign in order  to survive the provisions of Article 601 of the General Taxation Code.

The article states that
defaulters are liable to a fine that’s equivalent to 100% of the cost of the automobile stamp duty . As for recidivists, they will be brought to the court of law.

The amount paid as automobile stamp duty is in relation to the Horsepower of any vehicle.

Taxation Code fixes the fees as follows ;

#CFA2000 – Motocycles
# CFA 2000 Three-wheel
#CFA 5000 /2-7 HP

# CFA 25000/8-13 HP
#FCFA50,000/14-20 HP
#FCFA100,000/ 20 HP

The automobile stamp duty has a one year validity.

Kathy Neba Sina

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