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Friday, December 10, 2004

Retroactive car excise allegations rejected

The Finance Ministry yesterday responded to the accusations of the car leasing companies, rejecting fears that ongoing leasing contracts will suffer.

"The new way of calculating the excises for cars bought through leasing would only apply to contracts concluded after the new law comes into force," Finance Ministry official, Mihai Hura, said on Thursday.

Fiscal consultant Emil Duca stated the main issue is that the legislative did not take into account the running leasing operation.

The government decision, valid since November 18, stipulates that excises for leasing-purchased cars will be applied to the whole entry value.

Previously, the excise was applied to the cars' residual value.

According to the fiscal code, excises for new and second-hand cars range from 0% to 9%, respectively and 1.5% to 27%.

Posted by Iulia Rasoiu : 12/10/2004 09:53:00 am