Cars over 410 horsepower will be subject to 300 rubles/1 hp from 2013

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Cars over 410 horsepower will be subject to 300 rubles/1 hp from 2013 - ministry

MOSCOW. April 28 (Interfax) - The Russian Finance Ministry is suggesting that starting next year a minimum transport tax of 300 rubles per 1 horsepower be levied on cars with more than 410-horsepower engines, with the possibility of the country's constituent regions being able to increase that rate, according to a draft of the main tax-policy directions posted on the ministry's website.

Also proposed is quintupling the average transport tax rate for motorcycles of over 130-150 horsepower, jet skis of over 150 horsepower, and motorboats and yachts of over 300 horsepower.

The ministry has these proposals in the section concerning the taxation of luxury items.