Car Tax Law Cyprus News
Many people are concerned about new laws that are being brought in to bring Cyprus in line with other Euro Zone countries who base their car tax on emissions rather than the size of a cars engine.
Their still however remains a lot of confusion about how this will be implemented, what costs will actually alter and how each car will be classified.
Car Tax Cyprus Law
We aim to help clarify what the regulation will mean to car owners and others affected by the changes coming about in the new year.
The House Finance Committee in charge of bringing in the new legislation has said there could be a move to change some areas after pressure from various interested parties over the impact of the legislation.
The people most negatively impacted would be car importers, car rental firms and tourist bus and coach services.
Most though are practically minded about the changes and say that costs will simply be put onto consumers.
And the fact is that most of the additional charges are going to be on new vars registered after 2013 and into 2014 and the increase for already registered vehicles (cars and motorcycles) will be a special fee of €10 for low emissions, €20 for vehicles with engine displacements up to 2,050 cubic centimeters, and €30 for vehicles with engine displacements than 2,050 cc.
Vehicles registered by the end of the year will not have to pay road tax based on their CO2 emissions, as part of new legislation, but their owners will be charged an additional fee depending on engine size.
Here is the current costs for new cars and what they will mean to car owners.
Electric cars will be exempt from the new increases based on Co2 emissions.
The same exemption will be applied to vehicles with CO2 emissions of less than or equal to 120g/km (combined cycle).
The registration fee for vehicles with CO2 emissions over 120g/km and up to 150g/km will be €25 per gramme over 120.
A €750 fee will be charged for vehicles emitting between 150g/km and 180g/km and a €2,250 fee for emissions above that, plus €400 for every gramme over 180.
The new road tax will be charged as follows: vehicles emitting 120g/km, €0.5 per gramme, 120g/km – 150g/km, €3, 150g/km – 180g/km, €3, and over 180g/km, €8.
Bill necessary for remaining Cyprus bailout
DIKO MP Nicolas Papadopoulos, Committee chairman states that the bill will go ahead and is needed to ensure that the second load of bail out cash and means that Cyprus will be more in line with Europe on tax emissions and car tax levies.