Israel: Treasury Looking to Raise Tax on Cars
(Friday, February 8th, 2013)
The Finance Ministry is weighing a possible increase in sales tax on cars. Another possibility is to raise taxes on the environmentally friendly vehicles, electric and hybrid, which enjoy tax incentives today to encourage car shoppers to think green. This is perhaps the least popular alternative, for taking steps to push shoppers away from a ?green? decision would be met with much disapproval.
The sales tax on new cars in Israel today is a whopping 82%, but speaking from a relative standpoint, quite a bit less than 120% several decades ago. However, treasury officials today are looking at hiking that tax to 88%, a move that would generate a hefty sum for the government.
(YWN ? Israel Desk, Jerusalem)
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