12:15
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News Briefs

  Kislev 12, 5780 , 10/12/19

Temporary tax on luxury vehicles extended 2 years

The Knesset Finance Committee has extended the temporary tax on luxury vehicles by two years.

The two-year extension on the taxation of luxury vehicles, including hybrid and electric luxury vehicles, is instead of a permanent extension requested by the Tax Authority, as part of a summary, which includes the recent extension of the benefit demanded by the committee for the use of hybrid and electric vehicles. Committee Chairman Moshe Gafni said, "The Tax Authority and Finance Ministry should be prepared for a situation where the electric vehicle penetration [into the market] will not be sufficient, and then the outline will have to be re-examined."

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