Weekend ‘Ferrari’ drivers can claim 60% reduction on registration tax

New Transport Malta scheme will charge 40% of full registration tax on high emission cars to be used on weekends and national holidays only

Transport Malta has introduced a scheme that will allow motorists purchasing high emission vehicles and motorcycles to be used only on weekends and public holidays, to pay just 40% of the full registration tax.

“The objective of this optional scheme is to introduce a concept where high emission vehicles and motorcycles are kept off the roads during the week and hence reducing pollution,” Transport Malta said.

“It is also intended for vehicle enthusiasts who would like to register a high end vehicle, which normally would be high-powered and with high emissions, to be used exclusively on weekends and public holidays.”

Through this scheme, vehicle enthusiasts who only use their cars for particular occasions, events or shows would also benefit from the new scheme.

The registration tax payable under this Scheme will amount to 40% of the full registration tax, thus a saving of 60%.

The Annual Circulation Licence Fee will be paid annually in full.

These vehicles will be registered and licensed through the normal system, but the registration plates will be of a red colour and hence differentiate from the current fleet.

The scheme launched in Budget 2015 is open for vehicles used for the carriage of persons and which may carry no more than eight passengers in addition to the driver (Category M1) and motorcycles to be used during weekends and holidays Only.

This optional measure will apply only to M1 vehicles with CO2 emission levels equal to or greater than 221g/km with an emission level equivalent to the latest Euro standard (Euro 5/6) or Latest -1 Euro standard (Euro 4) and also to motorcycles with an engine capacity equal or greater than 801cc.

Vehicles registered under this scheme must be garaged and may not be used and/or parked on the public roads between Monday to Friday, both days included.

To deter abuse, the scheme also includes penalties for vehicle owners caught driving such vehicles between Monday to Friday. These fines could amount to paying double the registration tax with a minimum of €2,500 together with the registration tax due.