BUSINESS

Euro 5 car imports to weigh on coffers, market and environment

DIMITRA MANIFAVA

TAGS: Economy, Environment

The Association of Car Importers-Representatives (SEAA) estimates that if the government implements its plan to extend the favorable tax status for imported used vehicles that only fulfill the previous Euro 5 emission standards, state revenues will miss out on 52 million euros in 2016.

In fact the losses could be even greater as this way local used cars and new vehicles will be devalued, while the environmental impact will be significant from the increase in older polluting diesel vehicles.

SEAA says the government is planning an extension to the favorable status for Euro 5 cars, as opposed to those that fulfill the latest Euro 6 standards, for one or two years.

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