Norway: too many electric solders, a hole worth over 2 billion for lower gasoline consumption

 There was a lack of tax revenues on petrol. Now we are forced to reduce the concessions on electric.

A topic anticipated by many is now about to become a real problem for the Norwegian state coffers . With the real boom in electric cars of the last 3 years, Norway has to face the lack of tax revenue due to the lower use of fossil fuels. Many other states are trying to devise specific tariffs or excise duties to be included on the cost of electricity, in order not to lead to a problem similar to the Norwegian one.    Petrol drops and tax revenues drop  We wrote last month about the fateful point of no return, when the sale of electric cars exceeded that of endothermic cars, a milestone that arrived surprisingly in advance of forecasts a few years ago. By 2022, Norway plans to sell only electric or plug-in hybrid cars. An outgoing right-wing government that has pushed a lot towards sustainable mobility but which now leaves in the hands of the new center-left coalition (in part willing to give a second life to the Oil & Gas world) a lot of trouble. In fact, a hole of 19.2 Norwegian crowns would have been generated, just under 2 billion euros .   Being practically the forerunners of the electric, they are among the first to have to face a puzzle of this type. The strong incentiveswhich prompted the Norwegian population to choose a car on tap (electric or Plug-in Hybrid) have actually caused a decrease in revenues related to fuel taxes. In fact, those who chose to buy an electric or hybrid car were not required to pay VAT, purchase taxes, stamp duty, tolls (exemption canceled from 2017) and not even parking. In some places it is also allowed to use the road lanes usually reserved for public transport and taxis. In this way, wallet in hand, the electric car costs less than an endothermic one of the same level and power, strongly discouraging the purchase of a petrol or diesel car.   The solution?  It is unthinkable to be able to run for cover by offsetting the demand for endothermic cars, with only 5% of registrations last month. The International Monetary Fund IMF has also urged the Norwegian government to fill this budget gap. The most sensible choice would seem to be that which sees a decrease in some concessions for buyers of electric cars so as to reduce the outlay of the state coffers and launch a new tax system. The first hypotheses speak of specific taxes on plug-in cars, on second-hand electric cars and on luxury electric cars (based on price and power), in addition to the reintroduction of the annual tax.

A topic anticipated by many is now about to become a real problem for the Norwegian state coffers . With the real boom in electric cars of the last 3 years, Norway has to face the lack of tax revenue due to the lower use of fossil fuels. Many other states are trying to devise specific tariffs or excise duties to be included on the cost of electricity, in order not to lead to a problem similar to the Norwegian one. 

Petrol drops and tax revenues drop 

We wrote last month about the fateful point of no return, when the sale of electric cars exceeded that of endothermic cars, a milestone that arrived surprisingly in advance of forecasts a few years ago. By 2022, Norway plans to sell only electric or plug-in hybrid cars. An outgoing right-wing government that has pushed a lot towards sustainable mobility but which now leaves in the hands of the new center-left coalition (in part willing to give a second life to the Oil & Gas world) a lot of trouble. In fact, a hole of 19.2 Norwegian crowns would have been generated, just under 2 billion euros . 

Being practically the forerunners of the electric, they are among the first to have to face a puzzle of this type. The strong incentiveswhich prompted the Norwegian population to choose a car on tap (electric or Plug-in Hybrid) have actually caused a decrease in revenues related to fuel taxes. 

In fact, those who chose to buy an electric or hybrid car were not required to pay VAT, purchase taxes, stamp duty, tolls (exemption canceled from 2017) and not even parking. In some places it is also allowed to use the road lanes usually reserved for public transport and taxis. In this way, wallet in hand, the electric car costs less than an endothermic one of the same level and power, strongly discouraging the purchase of a petrol or diesel car. 

The solution? 

It is unthinkable to be able to run for cover by offsetting the demand for endothermic cars, with only 5% of registrations last month. The International Monetary Fund IMF has also urged the Norwegian government to fill this budget gap. The most sensible choice would seem to be that which sees a decrease in some concessions for buyers of electric cars so as to reduce the outlay of the state coffers and launch a new tax system. The first hypotheses speak of specific taxes on plug-in cars, on second-hand electric cars and on luxury electric cars (based on price and power), in addition to the reintroduction of the annual tax.

No comments:

Powered by Blogger.