Last year, vehicle tax revenues brought in just over €440 billion across 14 major markets in Europe, says trade body ACEA, 3% more than in 2018 and two and a half times the entire budget for the EU.
The tax take shows how important the auto industry is to the EU and as a source of fiscal revenue for governments, says ACEA, the Association of European Car Manufacturers
The top five countries with the highest motor tax revenues were :Germany − €93.4 billion, France − €83.9 billion, Italy − €76.3 billion, United Kingdom − €54.1 billion, and Spain − €30.0 billion
Eric-Mark Huitema, ACEA Director General, said “It is clearly paramount to the overall health of the EU economy, and government budgets in particular, that we can successfully re-launch our industry in the aftermath of the COVID-19 crisis.”