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The Price of the Average Car Will Increase the Most with the Change in Excise Duty
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Changes to the excise tax on new cars, which will take effect at the end of the year, could lead to higher car prices and increase inflation, says Benedikt Benediktsson, CEO of the Icelandic Trade and Services Association. The changes include the abolition of the excise tax on new electric cars but an increase on new cars that run partly or entirely on fossil fuels. The aim is to create a permanent incentive to choose vehicles that use clean dom…
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