Tax Update: EU Commission requests Cyprus to modify excise duty rules for imported second-hand motorcycles

The European Commission has formally requested Cyprus to amend its legislation on depreciation scales for the calculation of excise duties on second-hand motorcycles because the current rules discriminate against imported motorcycles. Under current Cypriot legislation, owners of second-hand motorcycles have to pay an excise duty depending on the depreciation of these vehicles, i.e. their loss…