Govt pushes back date for increase in taxes and import duty on imported private cars

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    Government has pushed back the date for the increase of taxes and import duties on certain private cars.

    Instead of October 20th 2020, these will now be enforced on January 1st, 2021.

    The increases were announced by Finance Minister Colm Imbert in the Budget for certain private cars, namely certain smaller engine CNG, electric and hybrid cars.

    Mr Imbert says the decision to move the enforcement date came at a meeting Cabinet last week.

    As such, he says all private motor cars that are imported and cleared through Customs on or before December 31st, 2020 will be taxed and/or be subject to import duty at existing rates and/or enjoy the existing tax and import duty exemptions.

    Cabinet also confirmed that the reduction in the permissible age of imported foreign used cars to three years, will also take effect in January 2021.