State of the Union: Five key takeaways from Ursula Von der Leyen
17 September 2020
Key points from von der Leyen's state of the union speech [caption id="attachment_14822" align="alignnone" width="640"]...
GRTU on behalf of the Auto Dealers Association, as members of GRTU, has written to Hon Minister Fenech regarding the new vehicle Licences introduced earlier this month in Budget 2009.
GRTU explained that it is presently very uncomfortable with the new licence scheme. Following a meeting held with the Ministry of Finance, the Economy and Investment, GRTU has submitted its counter proposals to the scheme introduced in the Budget, with the aim of ameliorating what GRTU considers as inappropriate.
GRTU's proposals are aimed at relieving car owners who have already suffered the registration tax and VAT from the double burden of increased road licences.
This because GRTU is against too heavy a burden on car owners to change older cars at a relatively short period of time as this will have an unnecessary pus with its adverse trade balance negative impact as well as its negative impact on our car garage servicing traders. Indeed the proposal as currently presented are unti-social as it is mainly middle income earners and pensioners who tend to retain cars for as long as possible.
These proposals also relieve the pressure on our local automobile dealers members who otherwise would have to suffer heavy devaluation of their existing stocks.
Presently second-hand auto dealers are experiencing continuous hardship. The uncertainty in the used car market has been with us for quite some time. In the last months customers have been visiting showrooms, mostly asking for information when the new tax system will be put in place and what will its pricing method be.
The new tax mechanism has been launched, but our members are still not in a position to figure out what the new pricing will be.
GRTU will be discussing its counter proposals with the Ministry of Finance later next week, in the hope of finding an understandable solution.
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