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Tax burden increases: NoVA reform hits SUV drivers hard!
On July 1, 2023, the NoVA for light commercial vehicles will be abolished. New taxes weigh on SUVs while electric vehicles benefit.
Tax burden increases: NoVA reform hits SUV drivers hard!
From July 1, 2023, the previous standard consumption tax (NoVA) for light commercial vehicles (N1) will be abolished. This is reported by the crown, and expects significant savings for small vans. This decision comes as part of the new government measures taken by the ÖVP, SPÖ and NEOS to prioritize savings while reducing “green” measures.
The new measures include the abolition of the climate bonus and the increase in the price of the climate ticket. There are also cuts in funding for thermal renovations of houses and for heating replacement. These changes indicate the direction the government is heading in seeking financial relief elsewhere.
Consequences of the NoVA changes
However, the upcoming regulations on NoVA also have an impact on the vehicle market. Loud finanzenvergehen.at The cost of many internal combustion engine vehicles, particularly large SUVs and high-performance models, will rise significantly. Buyers of such vehicles must expect a higher tax burden, while lower-emission vehicles become more attractive due to lower NoVA rates.
There are some tips for car buyers. It is advisable to rely on low-emission vehicles, as lower CO₂ emissions lead to a lower tax burden. Electric cars are a particularly good choice because they are exempt from NoVA and also receive government subsidies that can further reduce the purchase price. Used car imports should also be carefully examined, as the NoVA can become due retroactively, which makes it important to calculate the financial benefits of the import in advance.
Market developments and future trends
The increase in NoVA will also have an impact on the overall vehicle market. It is conceivable that sales of electric vehicles will increase as manufacturers increasingly offer hybrid or electric variants to escape rising NoVA costs. In this context, the market for high-emission vehicles will also come under pressure as the tax burden increases and more buyers could opt for already registered vehicles on the used car market.
Given these developments, it will be important to pay attention to the import regulations for used vehicles, as the NoVA is also calculated for imported cars. With the upcoming changes, the vehicle market in Austria will face exciting challenges that will affect both buyers and sellers.