Vat scheme aims to cut the price of used cars

The government is to introduce a new tax scheme for the motor industry in an effort to boost the beleaguered sector.

Ian Kehoe - avatar

Ian Kehoe

19th September, 2009

The government is to introduce a new tax scheme for the motor industry in an effort to boost the beleaguered sector.

The Minister for Finance, Brian Lenihan, has agreed to implement a Vat margin scheme, in use almost universally throughout the EU, on secondhand cars from the beginning of next year. The move is designed to help dealers reduce the growing stock of second hand cars on their forecourts.

The scheme will be introduced in...

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