Peter wrote:
post moved to existing thread. What sort of aircraft are you looking at?
sep with efis and csp/splc and in the semi far future its either going to be a mep or a pressurized sep.
although i made the new thread to understand the basics of insurance and tax in general rather then aircraft specific because its a gray area with little to no info available
For “tax” this is country dependent but in the EU you tend to have VAT on the original purchase from a VAT registered seller.
Insurance is purchased from aviation insurers. Obviously there is less competition than with cars. Which aspects do you think are a grey area?
What is “splc”?
Peter wrote:
For “tax” this is country dependent but in the EU you tend to have VAT on the original purchase
sorry, i meant the yearly tax not the tax on purchase
Peter wrote:
Which aspects do you think are a grey area?
everything but the main thins are the criteria on which the rates are calculated, how much the rates are going for and what does the insurance coverPeter wrote:
What is “splc”?
again, sorry i mean slpc (single lever power control)
I think all are variables, with insurance depending on aircraft type, pilot’s experience and accident history, and what cover is required.
There is no yearly tax on property, except in countries where corruption / tax evasion is out of control e.g. Greece where an aircraft is taxed according to the engine HP, as income equivalent (@petakas @atmilatos can explain).
Single lever is on a FADEC diesel, a turboprop, or a turbojet.
It’s a good thing when the County values your plane at $20K due to unfamiliarity and no comps 
VAT or IPT on the insurance premium (if either were payable locally) would likely be more than the property tax paid.
I did have to pay $1900 sales tax when I bought it.
there is a yearly tax on property, certainly in the socialist republic of Californistan. It’s about 1% of the value
You pay 1% of the book value of your aircraft every year?
The UK has ~0.5% house “rates” (council tax) but that’s off topic.
Maybe Romania (the OP of the last bit of this discussion) has such a tax (on personal property including aircraft). As I posted, Greece does (on stuff like planes and boats) and it is nearby.
I have a feeling there is something funny about this last bit of thread… It is easy enough to get some quotes on one’s proposed purchase.
Peter wrote:
e.g. Greece where an aircraft is taxed according to the engine HP, as income equivalent (@petakas @atmilatos can explain).
For a private individual aircraft owner, indeed, it is taxed per “income equivalent”.
This (in Greece) drives you then to the formation of a non profit organization i.e. an Aeroclub, that will own the aircraft and is run by its BoD.
Aeroclubs are not taxed for property but do have very specific obligations regarding participation in the National aero-athletic federation events.
In other words, I became an aero-athlete to save the aircraft.
The tax system is a bit more complicated here.
Every type of property is taxed against a base value using different criteria. Houses are taxed based on the square meters, cars are taxed based on engine displacement, etc and every county has different values.
Insurance is also based on the tax.
