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The Cyprus VAT is part of the European Union value added tax system. Certain goods and services are exempt from VAT. This includes exports, financial services, rent, etc. Corporate taxes are levied at a rate of 12.5%. Various deductions apply including interest, cost of buying other companies, and employer's cost to social security. [2]
The vehicle registration plates of Cyprus are composed of three letters and three digits (e.g. ABC 123). A simple incremental numbering system is used; numbers run from 001 to 999 per letter sequence (alphabetic), so that, for example, the plate to be issued after MAA 999 would be MAB 001 .
Combustion engine cars base purchase tax is 83% plus 7% customs tax for manufacturers from countries with no treaty with Israel plus VAT of 17% and optional "prestige tax" of 2.9% to 18% for high cost cars. This brings total tax on a new car to around 100%. Hybrid engine cars base tax is 45%, and electric cars base tax is 10%.
When it comes to buying and selling a car, cutting out the middleman has plenty of perks. Buying a car from a private seller will usually result in a lower price tag.
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Hong Kong does not have import tax for cars, however, the first registration tax is high. And the first registration tax rate is progressive, which means a higher price car will fall into a higher tax bracket. Since the used car values are mostly lower than new cars of the same model, used car can enjoy a lower tax rate due to depreciated car ...
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The tax rates displayed are marginal and do not account for deductions, exemptions or rebates. The effective rate is usually lower than the marginal rate. The tax rates given for federations (such as the United States and Canada) are averages and vary depending on the state or province. Territories that have different rates to their respective ...