The Irish government must begin to prepare for new EU measures to abolish VRT, according to Cyril McHugh, chief executive of the Society of the Irish Motor Industry (Simi).
McHugh said the Irish government's reliance on motor-related tax as a source of budgetary revenue was far in excess of most other European countries. Last year, total revenues from this tax source came to €4.6 billion - an increase of 15 per cent over 2003.
The recently introduced...
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