11:48 27.11.2015

MPs propose major cut to excise duties on used passenger cars to retrieve market from shadows

2 min read
MPs propose major cut to excise duties on used passenger cars to retrieve market from shadows

MPs have proposed that excise duties on used passenger cars should be temporarily reduced (from January 1, 2016 to December 31, 2017) to minimize temporary imports schemes to avoid paying taxes.

Bill No. 3251, registered in the parliament on October 7, 2015 was put on the agenda of the parliament's session on Thursday.

The authors of the bill are Robert Horvat, Yaroslav Dubnevych (Petro Poroshenko Bloc) and Viktor Halasiuk (Oleh Liashko's Radical Party).

The bill proposes setting new excise duties for used cars (without differentiation of cars for those older than five years as the current Tax Code has).

It is proposed that the excise duty of EUR 0.102 per cubic centimeter would be set for cars with petrol engines of up to 1,000 cubic centimeters (the same for new cars), which is 90.6% less than the current excise duties for cars no older than five years (EUR 1.094) and 92.9% less than the duty for cars older than five years.

Under the bill the largest cut in excise duty is foreseen for cars with engines of 1,000 to 1,500 cubic centimeters: it is proposed that excise duty for these cars should be cut by 95.3% and almost 96.4%, to EUR 0.063 per cubic centimeter.

The excise duty for cars with engines from 1,500 to 2,200 cubic centimeters would be cut by 83.9% and 88.9%, to EUR 0.267, with engines from 2,200 to 3,000 cubic centimeters – by 94.5%, to EUR 0.276 and with engines over 3,000 cubic centimeters – by 33.4% and 56.5%, to EUR 2.209.

The document also implies the reduction of the excise duties for used cars with diesel and mixed diesel engines.

In particular, it is proposed that the excise duty for cars with engines up to 1,500 cubic centimeters will be EUR 0.103 per cubic centimeter, which is 92.5% less than the current rate for cars no older than five years (EUR 1.367 per cubic centimeter) and 94.1% less than the current rate for cars older than five years (EUR 1.7761 per cubic centimeter).

The excise duty for cars with engines from 1,500 to 2,500 cubic centimeters will be EUR 0.327 per cubic centimeter (almost 83.3% and 86.7% less than the current rates) and with engines over 2,500 cubic centimeters – EUR 2.209 instead of EUR 2.779 and EUR 4.715 per cubic centimeter.

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