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Monday, November 08, 2004

Leasing to get more expensive

Starting from next year, cars and imported equipment may become more expensive, as the leasing legislation is about to change. Currently, the import taxes for leasing vehicles apply to the residual value, which is 20% of the CIP price. But this law is about to change, according to the Ministry of Finance, and the taxes will be applied to the entire CIP value, which means taxes will be roughly 5 times higher.

The custom tax and VAT will still be calculated for 20% of the CIP price and the leasing period is about to be longer.

Leasing has proved itself to be a very powerful market, with a total market value of over 1.8 bilion EURO.

Posted by Mihai : 11/08/2004 10:17:00 am