Britain is considering cutting the tax on company-owned electric cars to 0 percent, a source familiar with the matter told Reuters on Monday, in a bid to stimulate the market for greener vehicles. Skip related content
Chancellor Alistair Darling could announce the measures in his pre-budget report on Wednesday as the government is keen to boost its environmental credentials and provide a fillip to car manufacturers.
Businesses currently pay National Insurance cocentributions and employees pay income tax, based on the cost of company cars and its CO2 emissions. The range varies from 9 percent for electric cars to 10-35 percent for fossil fuel cars.
Source: yahoo.com
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