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Car registration Taxes: Count-down to a solution
26 June 2008
Auto Dealers United
Auto dealers operating on the local market and selling primarily used cars bought locally have now come together to form the Malta Auto dealers Association.
Auto dealers have agreed to act as a semi-autonomous association under the GRTU – Malta Chamber of SMEs umbrella as all members of the Association have also accepted to be members of GRTU. The concept is based on two basic tenants:
Safeguarding and promoting of entrepreneurial interests full members of GRTU
Safeguarding and promoting specific auto dealers matters as member of the specialist Auto dealers Association.
The first formal meeting of the Association was held at GRTU on Monday 23rd June. The meeting was addressed by GRTU Director General Vince Farrugia who explained what are the benefit of operating within GRTU.
The meeting was also addressed by Auto dealers Association President Michael Galea. Mr. Galea explained the work the five-man Association Committee is doing. Meetings have been held with the Task Force drafting the new vehicle registration tax, with the Minister for Finance the Hon Tonio Fenech and with Mr. Simon Vella Chairman of ADT.
Michael Galea gave details of what has been proposed to the Task Force to ensure that local auto dealers will not suffer a devaluations of the extensive stocks of used cars under their custody.
Michael Galea assured auto dealers that government was conscious of the problems raised by the Association/GRTU and he expressed his confidence that by July/August the new regulations will come into action, he expressed his optimism that the new registration system will not affect auto dealers negativity.
Thumbs up? The count-down has now started for the final situation.
