Electric Vehicles Catch Tax Break

Sep 17 , 2022


Drivers have an added reason to go electric as the import and sale of electric vehicles is no longer subject to value added tax (VAT) or excise tax, according to the Ministry of Finance. Officials hope to see the tax privileges encourage the use and affordability of electric cars, which have steadily been gaining popularity over the past couple of years. The tax exemptions extend to electric public transport vehicles, automobiles and trucks The import of fully-assembled electric vehicles will still be subject to a 15pc customs duty. Partially knocked-down parts brought in for domestic assembly are subject to 10pc less. Taxes imposed on non-electric vehicles have not been altered as officials plan to encourage the replacement of the growing fuel-consuming transportation service options with electric options.


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