SIMI call for Budget 2021 to reduce VRT
The Society of the Irish Motor Industry (SIMI) have today reiterated their call to Government to reduce Vehicle Registration Tax (VRT) in the upcoming Budget and so save jobs, writes Trish Whelan . A reduction in VRT would protect the 40,000 people employed in the Industry, sustain business, stimulate new car sales while helping to decrease emissions from transport and protect Exchequer Revenues. January 2021 will see a new taxation system for new cars tested under WLTP (new testing system). SIMI say any increase in VRT would have dire consequences for the sector which is already struggling in the context of both COVID and BREXIT. It would make new cars considerably more expensive to buy, reducing demand and would see thousands of job losses and business closures. Brian Cooke, SIMI Director General (pictured) commented: “January 2021 will see a taxation change for our Industry, the biggest change to VRT and Road Tax since 2008. The 2008 change coincided with the recession ...