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Classic car owners were in for a pleasant surprise as the Finance Minister announced that the registration tax on classic, vintage and veteran cars aged 50 years and over was being removed from today.
A vehicle is deemed to be classic, vintage or veteran if it was manufactured 35 years or more ago and is classified by the vintage classification committee. The definition of classic vehicles will also be changed.
The minimum age of a classic car will now be reduced by five years – down to 30 years.
The average age of Malta’s car population is 13 years but the island saw a boost of classic car collectors and clubs in the 1970s.
It was also announced in the Budget speech that the annual circulation licence for classic cars would be removed and replaced by an administrative fee of €8.
According to Transport Malta, someone who has more than one vehicle that has been certified as classic, vintage or veteran by the Vintage Vehicle Classification Committee can have such vehicles covered by one or more single multi-vehicle permit.
One annual circulation fee is equivalent to the highest certified classic, vintage or veteran annual circulation licence fee.