en.wikipedia.org/wiki/Ferrari_GT4
1 correction found
where cars with engines larger than two litres were subjected to more than double VAT (38%)
The 208 GT4 was created to avoid Italy’s higher tax on engines over 2.0 liters, but 38% was not the rate in 1975. Credible sources place the rate lower then, with 38% coming later.
Full reasoning
The general point is right — Italy penalized cars over 2.0 liters, which is why Ferrari offered the 208 GT4 — but the specific parenthetical "(38%)" is wrong for the model’s 1975 launch context.
Two independent sources contradict that number:
- Quattroruote’s historical review says the VAT on luxury goods including cars of 2.0 liters and up rose from 18% to 30% in 1974, then to 35% in 1977, and to 38% only in 1982.
- EUR-Lex (EU legal text discussing Italy’s historical VAT regime) states that cars over 2000 cc were taxed at 35%, which was later increased to 38%.
So while the 208 GT4 absolutely was a tax-driven smaller-displacement model, citing 38% as the relevant over-2.0-liter VAT rate for a car introduced in 1975 is anachronistic. The punitive rate existed, but 38% came later, not at the time of the 208 GT4’s introduction.
2 sources
- 70° Quattroruote
"Nel 1974, l’Iva sui beni di lusso (tra cui le vetture di cilindrata da due litri in su) sale dal 18 al 30% (al 35% nel ’77 e al 38% nell’82)".
- EUR-Lex - Case 200/85
"Fino al 1978... le autovetture di cilindrata superiore a 2000 cm3 erano assoggettate ad un'aliquota IVA del 35%, elevata successivamente al 38%".