Tax rules in each country

[ptilley42]

Would like to know how tax rules in each country effect purchacing a Taycan. Here in UK this year is just 1% tax so a tax rate tax payer pays only £365 this year on a £91,000 value, this doubles in 22. but pretty cheap. in perspective if you had a Range rover of similat value you get stung for over £12,000.

Sponsored

 

[Jhenson29]

We have a $7500 credit in the US (for now).

Sales tax varies by state and even county. Where I am, it’s 4.225% for state and 3.513% for the county. We do get trade in credit though in my state (tax is on net price after trade-in).

But…we also have personal property tax in Missouri. I think the rates here also vary by county. I think it’s something around 8% per year on 1/3 of assessed value where I am. We get to pay that every year for the privilege to own property. ?

 

[gnop1950]

We have a $7500 credit in the US (for now).

Sales tax varies by state and even county. Where I am, it’s 4.225% for state and 3.513% for the county. We do get trade in credit though in my state (tax is on net price after trade-in).

But…we also have personal property tax in Missouri. I think the rates here also vary by county. I think it’s something around 8% per year on 1/3 of assessed value where I am. We get to pay that every year for the privilege to own property. ?

In Arizona (for me) state + county + city tax = 8.7%.
License Tax (2022) = 20% * MSRP / 100 * 4 (This was 1% * MSRP in 2021 but goes up in 2022)

There are other incentives that vary by state. Note: The License tax break goes away entirely in 2023.

 

[B61]

Would like to know how tax rules in each country effect purchacing a Taycan. Here in UK this year is just 1% tax so a tax rate tax payer pays only £365 this year on a £91,000 value, this doubles in 22. but pretty cheap. in perspective if you had a Range rover of similat value you get stung for over £12,000.

12k every year?

 

[Fish Fingers]

Would like to know how tax rules in each country effect purchacing a Taycan. Here in UK this year is just 1% tax so a tax rate tax payer pays only £365 this year on a £91,000 value, this doubles in 22. but pretty cheap. in perspective if you had a Range rover of similat value you get stung for over £12,000.

Out of interest, I worked out the monthly tax on a company car for a standard M4 Competition (36% of value pa) v Taycan RWD (1% of value pa). No options, similar price. And for a higher rate taxpayer (40%) it was about £1000pm v £25 pm.

Then add on fuel and road tax.... Say another £250pm (from taxed income) for me.

So a company car M4 would cost me about £1300 pm more....... to drive round in a worse car.

In England its also worth pointing out that there is a grant towards new EVs but the cut off (£35k) is way below the cost of a Taycan (£75k+).

But you do get a grant of £350 towards a home charger which brings typical cost down from £1000 to £650.

 

[madeyong]

New Jersey. We pay one of the highest tax rates on both real estate property taxes and income taxes in the US but the one thing it has going for it is an exemption for 0% sales tax on zero emission vehicles. Not limited by income or vehicle price. That was a huge savings on my Taycan Turbo S purchase.

 

[menzz]

New Jersey. We pay one of the highest tax rates on both real estate property taxes and income taxes in the US but the one thing it has going for it is an exemption for 0% sales tax on zero emission vehicles. Not limited by income or vehicle price. That was a huge savings on my Taycan Turbo S purchase.

There is also the ev rebate of up to $5,000 if the MSRP is less than $55,000

 

[Terra]

British Columbia Canada is 12% (5%GST/7%PST) up to $124,999.00 20% (15% total $125,000-149,999.00 & (25% 150,000+)

And still... It is the Luxury & Supercar capital of North America..

 

[W1NGE]

Would like to know how tax rules in each country effect purchacing a Taycan. Here in UK this year is just 1% tax so a tax rate tax payer pays only £365 this year on a £91,000 value, this doubles in 22. but pretty cheap. in perspective if you had a Range rover of similat value you get stung for over £12,000.

To be clear this is not car / sales / purchase tax.

In UK we pay a road tax annually based on the CO2 rating of the car. On a new Panamera non hybrid this would be £1900 (approx) and on a Taycan £0. In year 2 the Panamera would be around £450+ and the Taycan £0 - I've just had mine over 1 year now and proudly received a road tax bill of £0 for 2021/2022.

Depending on how the car is provided - provided by a company car scheme or personal purchase then a benefit in kind tax is also applied - 1% to the former

Either way EVs are as cheap as chips in terms of taxation.

 

[tigerbalm]

For annual road tax, in Ireland EVs are €120/year; hybrids are €190/year (but set to rise); and ICE cars depend on CO2 and NOX emissions - but usually €2400/year for any car over 225 g/CO2 per km.

Unlike the UK, there is no initial high price and then deduction – its the same amount each year.

 

[B61]

No annual taxes for EV in Slovenia, judt vignette for highways (110€).
For ICE, taxes are based on motor volume (not sure about co2), but don’t know all details…

(VAT=22%)

 

[NYF]

40% purchase (registration) tax plus 25% VAT on a Taycan or similar in Denmark.

Which is actually cheap compared to ICE, which has 150% registration tax.

 

[McgR]

In Belgium, depending on the region registration tax is between 0 (BEV) and 5000 euro. Driving tax is not to much. The big difference is for company cars which almost all expensive cars are. The person driving the car is taxed for driving a company car. And this depends on CO2 and new price. For a panamera 4 this will be around 20.000 euro to add to the private income and this is taxed at 50% each year. For a Taycan but also PHEV with co2 less than 50 (until 2026) this is around 3.000 euro a year. Driving a panamera 4 will add almost 30.000 euro more in private taxes over 4 years compared to the Taycan.

In the Netherlands and Scandinavian countries the registration tax is based on new price and co2. For a 911 this can exceed the price of the car itself!

 

[PorscheCH]

In Switzerland, cars are subject to one off VAT (7,7% like most other goods) at purchase, wealth tax depending on the county of residence (where I live 0,1% of car value) and road tax every year again depending on where the car is registered, often based on weight and/or power (where I live a sports car with 700 hp costs 600 usd / year), EV are often free of charge or discount of 50/70%

 

[ptilley42]

40% purchase (registration) tax plus 25% VAT on a Taycan or similar in Denmark.

Which is actually cheap compared to ICE, which has 150% registration tax.

Ouch

Sponsored