State garnered 10 billion a year from taxes on car sales

Taxes dairy of Finance: New data published today (Wednesday) by the Tax Authority show that in 2014 there was a jump of 25% in tax revenues from the sale of vehicles in Israel, to NIS 9.4 billion. This is due to an increase of 24% in vehicle imports to Israel, when 279 thousand cars of different types were imported and sold in the country - a record number.

The jump is in comparison to 2013, which was also one of the best years in the history of the automobile industry. In financial terms there was a shoot up of 15% in sales of vehicles.

"Part of the increase is due to preparations by importers towards the changes in green taxation and incentives for safety formulas, so some vehicles were released from customs supervision in 2014, before such changes, but were recorded for traffic at a later stage," explains the Treasury.

The country recorded a total revenue of 10.3 billion in taxes in the automotive industry (sales of cars and spare parts) - an increase of 24% compared to 2013.

The data further shows that in 2014 the trend of purchase weight loss of fleets, including leasing companies, along with strengthening the power of the private consumer. As in previous years, private leasing continued to develop, which is essentially financial leasing for the private and business sectors, as well as the phenomenon of new car sales through leasing companies which strengthened.

The data illustrate again the flexible demand for fuels in Israel; Thus, despite a certain reduction in fuel prices, the average kilometers traveled by vehicles in 2014 remained almost unchanged and declined slightly relative to millage in 2013. A passenger vehicle travelled an average of about 14 900 kilometers (compared to 15 thousand kilometers in 2013) , while commercial vehicles traveled an average 22,300 km compared with 22,400 km in 2013.

"In general, over the past few years one can point to a downward trend in the average kilometers traveled," said the treasury.

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