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Recovering car market

By its historically high 2004, new cars sorts in Greece were found to subside up to percentage 80% the 2012, The consequence of the crisis characterized by the constant fall of GDP and the unstable tax framework in the industry.
However, from 2013 Recovery occurs, with the prospects being positive at least for the upcoming five years, As evidenced by Deloitte's latest study.

According to the report, which was based, inter alia, on Economist Intelligence Unit, The overall fall of the Greek market is the largest among Europe countries, as in comparison to the levels of 2016 shows a decrease 73%, and follow Hungary with 53%, Netherlands (31%), Spain (30%) and Italy (27%).

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New data in the car market

The luxury tax is abolished

The two interventions announced yesterday by Pantelis Oikonomou are expected to give a significant boost to the car market, under threat of fines from Brussels, which would burden the Greek economy.

We remind you that the luxury tax is imposed on passenger cars, with factory value over 20.000 euros for the new ones and over 16.000 euros for used ones.

In fact, the rates of the specific tax – which has paid little to the Greek State and has brought the market to its knees – range from 10% until 40%, depending on the factory value of the car.

In everything,what about the taxation of imported used cars, Greece has been condemned in the European Court, because he has imposed taxes on these cars. Against this measure, the Association of Automobile Dealers Importers of Greece appealed to the European Competition Commission.

Which one, Nevertheless, will be the benefit to prospective buyers; The example, which follows, is indicative:

Passenger car

1.800 cubic centimeters
Taxable value 20.000 euro

Today:

Luxury tax 8.000 euro + VAT 23% = 9.840 euro
End of classification (30%) = 6.000 euro
Total taxes = 15.840 euro

With the changes:

Luxury tax = 0 euro
End of classification (reduced by 20%) = 4.800 euro

Total taxes 4.800 euro

Difference 11.040 euro

As the member of the Board of Directors points out. of the Association, Kostas Tulitsis, "it is important that the ministry implements the values ​​in such a way, so that the classification fee, who pays an imported used car. to be equal to the remaining classification fee, which includes in its sale value an identical domestic used car".

Source : newsbeast.gr