News | Tuesday, 04 November 2008

Government to pocket €8m more from car tax

Kurt Sansone
The much-awaited car registration tax overhaul will not be revenue neutral despite promises by government that the change will not add more money to public coffers.
According to the financial estimates presented by the Finance Minister in 2009 government will be raking in more than €8 million from new tax and licence regime linked to motor vehicles.
While the new car registration tax will yield €7.7 million less, government will be recouping that amount and much more from driving licences and the annual road licence, which together will pour more than €15.7 million into government’s coffers.
The new tax regime will see the registration tax for smaller, cleaner cars drop by as much as 44 per cent while that for higher powered, more polluting cars increasin by as much as 45 per cent.

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