Thursday, October 22, 2009
RMI Pre-Budget Submission
'The Government's decision to extend the scrappage scheme is very welcome news, but the industry faces other challenges, including the looming VAT increase and ongoing issues surrounding Vehicle Excise Duty (VED) refunds, which must be addressed,' said Sue Robinson, Director of the Retail Motor Industry Federation (RMI) commenting on the RMI's Pre-Budget Submission.
With the re-introduction of the 17.5 per cent VAT rate scheduled for 1 January 2010, the RMI is urging the Government to postpone the increase for at least one month until after the busy New Year sales period.
VED refunds are an ongoing concern as from 1 January 2009 vehicle dealers were prevented from applying for refunds on vehicles taken in part exchange for sales. The RMI continues to lobby the Government to review this decision.
DATED: 22.10.09
FEED: AW
