Dr. Peter Phillips, the Minister of Finance and Planning, on May 24, 2012 presented the new budget for 2012-2013. Amongst all the changes that were mentioned it includes increases for motor vehicles with engines over 2000cc. However the new gazette that was release recently and it indicates that the increases in duty extend beyond motor vehicles and also now includes pickups. U-Drive vehicles have also seen an increase.
The increases have affected the following brackets below;
- Diesel, 2000-2200 cc - Duty = 30% (previously 20%)
- Diesel, 2200-3500 cc - Duty = 30% (previously 20%)
- Diesel, over 3500 cc - Duty = 30% (previously 20%)
- Petrol, 2000-3500 cc - Duty = 30% (previously 20%)
- Petrol, over 3500 cc - Duty = 30% (previously 20%)
- Pickups, under 1850 kg - Duty = 30% (previously 20%)
- Pickups, 1850-2200 kg - Duty = 30% (previously 20%)
- Pickups, over 2200 kg - Duty = 30% (previously 20%)
The SCT rate per bracket remains the same.
The most notable change is the separation of the 2000-2200cc diesel vehicles. Prior to the last budget announcement the petrol bracket of 1000-2000cc was mirrored by a diesel bracket of 1000-2200cc. Due to this change, customers hoping to purchase a motor vehicle with a diesel engine between 2000-2200cc will be paying up to 7% more on the price. Below are a list of brands that are affected.
- Mercedes Benz 2200cc diesel - ML250 CDI, GLK250 CDI, etc.
- Land Rover, Range Rover 2200cc diesel - Evoque, Freelander
- Jaguar 2200cc diesel - XF
It is yet to be seen if automobile dealers both new and used will appeal these changes.
The increases have affected the following brackets below;
- Diesel, 2000-2200 cc - Duty = 30% (previously 20%)
- Diesel, 2200-3500 cc - Duty = 30% (previously 20%)
- Diesel, over 3500 cc - Duty = 30% (previously 20%)
- Petrol, 2000-3500 cc - Duty = 30% (previously 20%)
- Petrol, over 3500 cc - Duty = 30% (previously 20%)
- Pickups, under 1850 kg - Duty = 30% (previously 20%)
- Pickups, 1850-2200 kg - Duty = 30% (previously 20%)
- Pickups, over 2200 kg - Duty = 30% (previously 20%)
The SCT rate per bracket remains the same.
The most notable change is the separation of the 2000-2200cc diesel vehicles. Prior to the last budget announcement the petrol bracket of 1000-2000cc was mirrored by a diesel bracket of 1000-2200cc. Due to this change, customers hoping to purchase a motor vehicle with a diesel engine between 2000-2200cc will be paying up to 7% more on the price. Below are a list of brands that are affected.
- Mercedes Benz 2200cc diesel - ML250 CDI, GLK250 CDI, etc.
- Land Rover, Range Rover 2200cc diesel - Evoque, Freelander
- Jaguar 2200cc diesel - XF
It is yet to be seen if automobile dealers both new and used will appeal these changes.