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Bucharest
August 1, 2021
BUSINESS

Govt estimates auto tax revenues thrice lower than originally expected

Government estimates to cash in auto tax revenues only worth RON 624 M, three times less than projected last year, amid a 25 pc quantum cut and the suspension of the first-sale car tax, Mediafax reports. The latest projection,  laid out by the environment minister at yesterday’s government session, was included in the Environment Fund budget. Starting from this year, the vehicle emissions tax is cut down by 25 pc. Also, the government maintains the scrappage bonus of RON 3,800 part of the “Cash for Clunkers” Program, yet within a RON 114 M cap, a lot lower than last year’s, under which up to 30,000 auto vehicles will be taken out of circulation. Environment Minister Laszlo Borbely said that the budget might be supplemented later on, “depending on how the market evolves”. Government estimates the new stage of the program will kick off in about three weeks.Last year, government allocated RON 456 M, in two tranches, for 120,000 vehicles being taken out of circulation which resulted in 116,641 autos scrapped by late last December and nearly 40,000 bought.

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