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Parliament to Consider the Initiative on Tax Incentives for Hybrid Cars

Parliament to Consider the Initiative on Tax Incentives for Hybrid Cars

A draft law on the establishment of tax exemptions on the import of hybrid cars has been submitted to  the Parliament.

The authors of the project  hope that the Parliament will discuss the project before the end of the year. The project provides for an exemption from excise duty and tax on imports of cars with hybrid engines.

Deputies have their own considerations  about  the document. For example, in the financial-budgetary committee believe that the benefits should not apply to all hybrid cars, including the ones whose electricity efficiency is very low. The Committee recommended that the developers of the bill to determine the age of vehicles  to within 5 years.

Apart from that, they say that the excise and import tax cannot be completely abolished but  only reduced by 50%.

However, the initiators of the project expressed their disagreement with the financial-budgetary committee and submitted the document to the Parliament without amendments. In their view, the budget losses will not be serious if the law is adopted – it is  about GEL 900 000 that is not a  critical figure  for the budget.

At the same time they believe that it’s much more important to encourage the import of environmentally friendly cars which will update the fleet of the country. They explain that it  will also improve the financial and economic indicators.