House Industry Committee to complete its review of automotive directive by mid March 2017
The House Industry Committee is targeting to complete its review of the automotive directive by mid-March 2017. The final draft of the law will then be submitted to the committee’s general assembly, to set a date for a vote on the bill. The committee held discussions with auto industry players this week, with importers continuing to object to the structure of the minimum export quotas (25% from value of imports) necessary to benefit from tax incentives, demanding to see that quota reduced to 5-10%. They also demanded extending the eight-year period, which was set as a time frame for companies to achieve a 65% local component ratio.
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