Z4 M taxation

[RobertRO]

In this bemusing country called Romania, where God arranged me to be born and live in, owning a car is a challenge from the taxation point of view. Since 2006, the tax and insurrance rules are changing almost every other year. You never know what may hit you next year.

I would highly appreciate if you could briefly inform me about the cost of owning a Z4 M (3.2l engine) in your country. I mean:
- annual tax charged for owning the car;
- cost of mandatory annual insurrance (RCA);
- cost of optional annual insurrance (CASCO).

If you can also add a few words about how is the annual tax calculated (e.g. depending on car age, value, engine displacement, emission norm, etc.), that would be excellent.

 

[ga41]

I feel for you man, it's the same thing here in Cyprus. Taxation for anything with an engine over 2.0lt is brutal...

I paid 24.000 euro for the car in England, i paid another 19 to import it. I paid 4.5k to register it...
The import tax, so called consumption tax, is calculated by the car's age, engine capacity and CO2 emissions. The initial registration is based on a similar formula.

Then the annual tax is about 670 euro and i really have no idea what formula is used other than "big engines = more money".

Annual insurance is 900 euro for a 26 year old.

 

[billygilly]

I paid 24.000 euro for the car in England, i paid another 19 to import it. I paid 4.5k to register it...
you paid nearly the same 23.5 to import it?

 

[ga41]

I paid 24.000 euro for the car in England, i paid another 19 to import it. I paid 4.5k to register it...

you paid nearly the same 23.5 to import it?

Yeap. In the end I paid as much as a used 2003 E46 M3 goes for here in Cyprus so i'm still happy.

 

[RobertRO]

I paid 24.000 euro for the car in England, i paid another 19 to import it. I paid 4.5k to register it...

you paid nearly the same 23.5 to import it?

Yeap.

Wow, that is excruciating... I didn't know it's really so bad to import a car in Cyprus.
I wonder if any other European country can beat that import + registration tax.

In Romania, for a Z4 M manufactured 2006:
- annual tax: 1200 euro. The tax value is strictly related to engine displacement;
- mandatory insurrance: ~200 euro (37 years old owner, no accident history). Does not cover any damage to your own car;
- optional insurance (covers damages to your car): ~2500 euro.

The tax to import the car (so called "pollution tax") was ~ 4000 euro.

 

[mikedav]

In the UK its not so bad (though nowhere near as good as the US).

We don't have a 'compulsory insurance' scheme but insurance is required by law. The cost will vary wildly depending on your age, claim history etc. However I'm 29 and its about £700 for fully comprehensive cover.

Road tax is our version of an annual registration fee, and that's currently £440ish per year for a Z4M but I believe it may have gone up slightly. You can buy that as 6 or 12 months, but they charge a bit more if you do it in 6 months slots as they are thieves. Calculated based on vehicle emissions. Z4M = top bracket.

They don't make the Z4M any more of course but buying new, someone would also now pay double road tax for the first year. New cars are also subject to 20% VAT and we don't pay import taxes directly unless importing used.

There is the annual inspection (MOT) every year once the car hits 3 years old and that's about £50.

Otherwise, thats pretty much it.

 

[ga41]

Also to add that my insurance is also fully comprehensive and it's mandatory to have some form of insurance policy on your car.

mikedav, do you also pay import tax on used cars even if they're from the EU?

 

[mikedav]

Nope... And VAT only payable on new cars; on used, as long as you can prove VAT paid in the original country of purchase there is no duty

 

[ga41]

Nope... And VAT only payable on new cars; on used, as long as you can prove VAT paid in the original country of purchase there is no duty

As it should be for all EU states, EXCEPT CYPRUS! :x

 

[VvrooomM]

Am sure you pay VAT on imports from EU, exceptions are when you are moving to the UK from EU and then you have to move car within first 90 days or something and complete the registration.

 

[Bandit007]

I imported my 3 series from the UK to Germany. There is no import duty, VAT or any other sort of tax to pay as long as you can show tax was paid in the original EU country of first registration. After getting the car here I had one year to either remove the car from Germany or register it here, which is what I did. That just involved a vehicle history check from Flensburg (UK style DVLC) TUV (MOT), insurarance number, proof of residence in Germany and a registration fee obout 35Euros, which is paid every time you register a car in your name for the first time wether new or secondhand.
Annual road tax for my 3.0 Z4C is 202.50 Euros, Comprehensive insurance 440 Euros and the TUV around 80 Euros (every two years).
Tax is payable here on imports from some non-EU countries but I am not sure how it is calculated.