Car excise duties will increase for old small cars and green passenger cars, however there will be reductions for old cars with large engine capacities in new taxes for 2016.

Specifically, there are four different rates of excise duties:

– Old cars over 15 years of age (prior to 2001) will have reductions worth 15-90 euros, however old cars of up to 1,357 engine capacity don’t benefit from the changes. Only cars over 4,000 capacity benefit from the reforms.

– Cars from 2001-2005 will have reductions from 30 euros for 1,929 engine capacity cars and 60 euros for over 4,000 engine capacity.

– Cars purchased from 2006-2010 will have increases worth 15-60 euros for 1,400 engine capacity cars.

– Cars bought after 2011 will have increases. Reductions to exemptions for cars with emissions of up to 100 grams of CO with the rates being lowered to 90. Cars with emissions from 91-100 grams will pay 81-100 euros though last year they were exempt from car excise duties. Furthermore cars with emissions of 101 grams or more will also pay up to 80 euros.

Alternate Finance Minister Tryfon Alexiadis said that the hikes will be small and aimed at yielding 13 mln euros per annum.