car tax tagged posts

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July 13, 2018 Taxation in USA

TeslaWASHINGTON D.C. – Tesla may have sold more electric cars in America than any other manufacturer, but the success comes at a price for consumers.

On July 12th the American electric vehicle manufacturer, Tesla, confirmed that it has reached the production threshold which triggers the winding down of tax breaks available to American’s buying a Tesla.

Under current US tax rules, individuals purchasing an electric vehicle are eligible to receive a federal tax break of up to USD 7 500 when purchasing a Tesla.

However, as the tax break was not intended to be a permanent measure, the rules also stipulated that it applied in full to the first 200 000 cars shipped by any given manufacturer.

Tesla is now the first manufacturer to reach the 200 00 car threshold, meaning that in six months’ time t...

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New Petrol Taxes Launch in New Zealand

June 29, 2018 Taxation in New Zealand

petrol taxes in new zealandWELLINGTON – From this weekend on, petrol will be more expensive in New Zealand, as new taxes come into force.

Earlier this week the New Zealand government passed the third reading of a bill to levy a regional fuel tax in the country’s biggest city.

The new regional fuel tax will allow the Auckland Council to charge a tax of NZD 0.115 on each litre of petrol sold in the Auckland region.

The money gathered from the tax is aimed at helping fund new infrastructure developments, and to ease the monetary burden felt by the government in paying for roads in Auckland.

Along with the new regional tax, the government hopes to enact a new nation-wide tax from October 1st, which will be levied at a rate of NZD 0.035 per litre of petrol.

It is expected that by 2020 the new taxes will result in t...

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Egypt Hikes Petrol Prices

June 18, 2018 Taxation in Egypt

Fuel tax EgyptCAIRO – Taxpayers across Egypt will soon be feeling a greater financial burden, hikes petrol prices and gas prices by as much as 50 percent.

Over the weekend the Oil Minister of Egypt Tarek el-Molla announced that the price of petrol and cooking fuel will be hiked, as part of the government’s austerity measures.

Egypt’s ongoing slashes to subsidies are part of a deal with the International Monetary Fund, which is calling for economic reform as part of a USD 12 billion loan package.

The price of 92-octane gasoline will now rise by 34 percent, while the price of 80-octane will rise by nearly 50 percent.

The less popular 95-octane gasoline will also rise, but only by a comparatively smaller level of 17.5 percent.

The hikes are not restricted to transport fuel only, with the gas often use...

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Israel Enacts Surprise Tax Hike on Luxury Electric Cars

June 11, 2018 Taxation in Israel

TeslaTEL AVIV – Consumers buying luxury electric cars in Israel have received an unwelcome surprise in the form of a tax hike.

Over the weekend the Minister of Finance of Israel Moshe Kahlon announced that an order has been signed to hike the taxes imposed on the sale of luxury-level electric vehicles sold in the country.

Previously, electric cars bought in Israel would face a purchase tax of 20 percent, while hybrid vehicles would face a tax rate of 30 percent.

However, following the new order, the rate of purchase tax on both vehicles types will rise to 34 percent and 44 percent for electric and hybrid vehicles, respectively, for vehicles with prices exceeding ILS 300 000.

It is believed that high-end electric vehicles made up nearly half of all sales of electric cars and hybrid cars over t...

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Drop The Petrol Tax, Says NZ National Party

May 23, 2018 Taxation in New Zealand

Fuel taxWELLINGTON – The New Zealand government needs to drop the idea of new petrol taxes, as the fuel prices are already at record-high levels, according to the major opposition party.

In a new press release issued on May 22nd the National Party of New Zealand, the major opposition party, called on the government to cancel the planned implementation of fuel taxes in the country.

The National Party claims that the current price of petrol is at a record high, hitting as much as NZD 2.30 per litre, and that some experts are claiming that the price could reach NZD 3 per litre in the foreseeable future.

The government of New Zealand is currently planning on enacting nation-wide hikes to the rate of fuel tax of NZD 0.03 to NZD 0.04 per litre per year for the next three years.

The national fuel tax ...

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