ECONOMY

Vehicle owners submitting plates in droves

vehicle-owners-submitting-plates-in-droves

In the two-month period up to January 9, 122,000 vehicle owners submitted their license plates, making for a significant loss of state revenues amounting to some 50-60 million euros, given that these are mostly vehicles with big engines and therefore high road taxes.

Insurance companies have been hit by collateral damage, as the number of insured vehicles shrank by about 92,000 in the same period.

Transport Ministry figures show that from 2010 up to 2015, the plates of more than 1 million vehicles were returned, to avoid tax payment.