VATupdate

Norway’s Planned Luxury EV Tax Could Slow Sales Of High-End Models

The Labor party’s Jonas Gahr Stoere is expected to become the new prime minister of Norway, where EVs outsold fossil-fuel-powered vehicles in each month last year.

But Stoere is expected to form a coalition with parties that have vowed to introduce legislation to tax luxury EVs, with a 25-percent value added tax (VAT), because subsidies cannot be handed out forever and because the state needs those revenues.

Source: oilprice.com

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