FRANCE MOVES TO ERASE TAX LOOPHOLE FUELLING GREY MARKET IN USED CAR IMPORTS
December 12th, 2014
The French motor trade is celebrating victory in a multi-year campaign to persuade the government to tighten up the procedures for payment of value-added-tax (VAT) on second-hand vehicles imported into France. The French ministry of finance has proposed reforms to the government’s national budget for 2014 that would end a cross-border fraud estimated to have cost the country a billion euros through the sale of about 160,000 used autos in the past 10 years, depressing the market for new France-made and imported cars. This estimate was given by the ...
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