In July, the Italian government increased the subsidies for electric cars due to the economic crisis triggered by the pandemic. The donations ranged from 6,000 euros to 10,000 euros for new electric vehicles with combustion engines scrapped. As a result, the current subsidy for PHEVs is lower than the summer subsidy. The 6,000 euro PHEV subsidy will no longer be available. However, the increased subsidies are likely to be back in effect soon.
As part of an initiative to reduce carbon emissions, the government of Italy is offering subsidies to buyers of hybrids or electric cars with CO2 emissions between 21 and 60 g/km. The subsidies are available to buyers of new hybrid or electric vehicles and people who scrap an old vehicle. The money will be reimbursed to those who scrap a car. The government has set aside 65 million euros for these subsidies.
The Italian government has recently increased the subsidy rates for electric and chaturbate hybrid cars. Previously, the government had offered subsidies of up to 6,000 euros for purely electric vehicles with scrapped combustion engines. This new scheme will likely help the economy recover from the current economic crisis. In addition to the subsidy increase, the government will be giving PHEV buyers a further 10,000 euros in exchange for scrapping their old combustion engines.
In addition to these subsidies, the Italian government also offers assistance for cars with efficient combustion engines. These subsidies could add up to EUR2,500 for buyers. At the same time, those who opt for an efficient combustion-engine vehicle could get up to EUR1,250 to scrap their old vehicle. Other countries offer similar incentives for new electric cars. Still, the United States government has been running into legal trouble from trading partners because it subsidizes domestic vehicles.
As part of its plan to drive towards zero-emission mobility, the Italian government offers subsidies to buy hybrid electric cars. These subsidies will cover up to 45,000 euros and up to 2,500 euros in other cases. The incentives will also extend to buyers of new Euro-VI-compliant cars. So, if you’re considering buying an electric vehicle, now is the time to make the switch.
Exemption from annual ownership tax
The government has stepped up incentives for buying an electric car in Italy, giving buyers a seventy-five percent reduction on the tax rate. For the next five years, owners of plug-in hybrids and fully-electric vehicles will be tax-free in Italy. Additionally, owners of these cars may enjoy free parking in ZTL zones or free circulation in urban areas. These incentives will remain in place through 2021, with new incentives coming into play.
During this reform, electric car buyers will receive a EUR30 tax bonus per year. The annual tax bonus can be extended up to five years, depending on their situation. It will be available for the first registration of an electric vehicle between June 2020 and 2024. In addition to this, the government also extended the existing exemption for electric cars, making the new rules valid until December 2025.
The tax benefit will then expand to December 2030.
While the government has introduced new policies supporting the EV industry, subsidies are still limited. In Italy, for example, a donation for electric cars of up to 6,000 euros is available. However, other incentives are available, including a 2,000-euro contribution linked to the scrapping of a polluting combustion-engine vehicle. But for now, these incentives are not enough to encourage buyers. EVs must reach out broadly and educate more users to ensure that they get the recognition they deserve.
Another significant incentive is the tax on EVs. The tax reduces from seventy percent to twenty-three percent of the vehicle’s cost. Besides the tax reduction, the new legislation also allows drivers to install 100kW Lupoporno chargers at their homes. Additionally, homeowners who cannot establish charge points can get a EUR20000 home installation grant. Businesses in Italy can also benefit from tax relief by investing in a hybrid or electric vehicles. However, the amount of financial assistance per company is EUR80,000.
Tax deduction for EV charging structures
In Italy, businesses can take advantage of a tax deduction for EV charging infrastructure. Companies can claim a EUR3,000 tax deduction for the cost of a charging station. The incentives designed to promote EV ownership and increase the use of electric vehicles in the country. In addition, the government has a program called Eco-Bonus, which
subsidizes charging infrastructure for plug-in electric vehicles. The goal is to reduce carbon emissions by at least 50 percent by 2050 and mandates that all ICE vehicles change to electric cars.
In Italy, EV charging infrastructure can be purchased and installed for private, commercial, or public parking. Businesses can claim a tax deduction of up to 50 percent for this investment. Housing organizations can claim a tax deduction of 35 percent, or up to ninety thousand euros if they install EV charging stations. However, the tax deduction will reduce to 30 percent by 2023. However, suppose the charging infrastructure is digitally connected to a management system. In that case, a tax deduction is up to EUR1,500 for each charging point and taxpayer.
Moreover, governments also offer incentives to encourage EV adoption. For instance, a tax deduction of 75 percent of an EV charging infrastructure costs is available to individuals who buy or lease a new EV. The tax benefit is available for EVs in the private and public sectors. In Italy, tax deductions for EV charging infrastructure include public parking, toll fees, and ferries.
List price limit for PHEVs
While many different incentives are available to encourage EV ownership, the federal EV infrastructure tax credit applies to commercial and residential EV charging infrastructure in Germany, Amaporn, France, and Austria. However, this tax credit is non-refundable and cannot be used to increase overall tax refunds. It may be worth considering investing in EV charging infrastructure in Italy. In Italy, you can benefit from this program and save money on parking fees.
In Italy, the government has created an incentive program that pays residents for installing an EV charging structure. It provides 75 percent of the installation costs. The grant is available to all residents. However, you must complete your installation by 31 March 2022 to qualify. Once your installation is complete, submit your claim to the Driver and Vehicle Licensing Agency. In addition, residents in rental properties must submit their claims by 30 April 2022.
From 1 January 2022, the minimum range for PHEVs will increase to 60 km. In addition, these vehicles must also be less than 50g CO2/100km to be eligible for the state subsidy. Some models are already beyond this limit, however. Luckily, these new regulations will only affect a few types of heavy vehicles, which have the same issues with emissions and range as PHEVs.