Excise tax on sport cars to total 100 GEL in Georgia
Currently the excise tax is defined following the age and engine volume of sports cars. Photo: Georgian Automobile Sport Federation.
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Georgia is changing excise taxes on sports cars, announces local media outlet Interpressnews.
Following the passing of a new bill, a fixed amount of 100 GEL (about $37.04/€33.25) will be established for excise tax on sports cars.
Currently the excise tax is defined following the age and engine volume of sports cars.
The necessity of changing the rule of setting an excise tax on sports cars arose after the amendments to the Tax Code in 2016, that led to an increase in the cost of customs clearance of motor vehicles.
Accordingly the import of vehicles decreased. The auto park had a total of 115 sport cars in 2014-2016, while as of 2019 there are only 27 sports cars that have been imported so far, said the Georgian Automobile Sport Federation.
The parliament of Georgia will discuss the amendments on April 30.
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