Government allows registration of cars older than 7 years

The registration of vehicles with foreign license plates and with temporary import status will be allowed until 1 November 2012, regardless of their age. A legislative proposal to this effect has been approved by the Government, Info-Prim Neo reports. Vehicles will be granted permanent import status upon the payment of the import fees. For cars newer than 7 years, excise taxes will be those stipulated in the Fiscal Code, but for cars older than 7 years excises will rise by 5% with every year, but will not go higher than 35%. Minister of Finance Veaceslav Negruta said that the measure will contribute to the legalization of the foreign-registered cars existing in Moldova. Further, additional revenues from these registrations could rise up to 125 million lei. After 1 November 2012, cars older than 7 years will not be allowed for registration, and those temporarily imported will have to be taken out of the country. The Fiscal and Customs policy bill for 2013 approved by the Government proposes the increase in rising the age limit of imported cars, from 7 to 10 years, introducing higher excise taxes for cars aged 8, 9 and 10 years: +5, +10 and +15%, respectively, as a supplement to the excise provided by the Fiscal Code.