Italy Raises Taxes On SUVs, Luxury Cars

Oct. 3, 2006
Italian owners of luxury cars and sports utility vehicles will face a huge increase in the annual auto tax next year as part of a government bid to rein in the budget deficit and reduce pollution. Vehicles weighing more than 5,700 pounds and certain ...

Italian owners of luxury cars and sports utility vehicles will face a huge increase in the annual auto tax next year as part of a government bid to rein in the budget deficit and reduce pollution. Vehicles weighing more than 5,700 pounds and certain luxury cars will be subject to higher taxes depending on their power, amounting to nearly double the current rates.

The fee for a Jeep Cherokee, for example, will rise from $524 to $933. That for a Mercedes SUV will rise to $1,311, while a Toyota Land Cruiser will be charged $875. A Rolls Royce Phantom's tax burden will rise from $1,110 to $1,970, while a Mercedes limousine will cost its owner $2,215 next year, from $1,248.

The tax rise comes as vehicle registrations have fallen for a third consecutive month in Italy, shrinking 3.24% in September compared with the same month last year.

The government of Prime Minister Romano Prodi aims to trim Italy's budget deficit by $33 billion in 2007.

Copyright Agence France-Presse, 2006

Popular Sponsored Recommendations

The Benefits of Continuous Thermal Monitoring

Oct. 17, 2023
Read this eBook to learn more about collecting and using data intelligently to improve performance.

Navigating Disruption: A Leader’s Guide to Strategy Under Uncertainty

Nov. 1, 2023
AI, sustainability, digital--industrials are facing disruptive forces that are redefining what it takes to win. What got your company where it is today won’t get you where you...

7 Crucial Steps to Improve Your OT Security

Oct. 23, 2023
Enhance OT security in manufacturing and production. Uncover the crucial steps to safeguard your operational technology. Protect against evolving threats and bridge the IT-OT ...

How to Build Zero-Cost On-Site Solar and Storage Projects

Nov. 25, 2023
The Inflation Reduction Act offers tax credits, incentives, and financing that enable no-cost projects. In Enel’s eBook, discover the critical role that incentives play in your...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!