Sharp increase in vehicle excise taxes
The Icelandic Automobile Association (FÍB) has not received any explanation from the ministry regarding the tax increase. mbl.is/Árni Sæberg
The government’s draft budget projects a significant rise in state revenue from vehicle excise taxes, with income from this source expected to increase by 66.2% next year compared to projected revenue for this year.
When comparing the revenue from vehicle excise taxes in this year’s budget to the projected revenue in next year’s budget proposal, the increase amounts to 81.54%, or just under eight billion ISK.
Guðlaugur Þór Þórðarson, an MP for the Independence Party and a member of the parliamentary budget committee, told mbl.is that this estimate is completely unrealistic.
He said there was no chance that so many cars would be sold next year for vehicle excise taxes to generate the level of income projected in the government’s budget proposal.
