Lion Bank
Dashen Bank
FORTUNE+ VIDEO JOBS SPONSORED CONTENTS FORTUNE AUDIO TRADE AFRICA new

Fortune Logo

Electric Vehicles Catch Tax Break

September 16 , 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.

Put your comments here




Related Posts

Share This Post
Linkedin
Google+


Most read

Latest News

Editor's pick

Commentaries

Irrigated Wheat Production: Light at End of Food Aid Dependency

The report about Ethiopia's potential to produce irrigated wheat is a source of hope...

The US Inflation Bonanza for Sovereign Debtors

As developing countries confront a new era of elevated inflation, rising interest rat...

Fineline

Leaders of the National . . .

Leaders of the National Election Board are in a charm offensive mood, of a sort. Last week, they organised a rare tour for members of the me...

When the country’s most. . .

When the country's most senior diplomats and envoys return back to their posts after two-week debriefings, they leave behind a point or two...

Editorial

Rip the Band-Aid Off. Float the Birr. Liberalize Capital Account

October 1 , 2022

The foreign exchange market is seeing a war of attrition, with the Dollar gradually t...

Why Ethiopia's Economy Catches Cold When Europe Sneezes

September 24 , 2022

Look no further than the flower industry to appreciate the importance of the European...

Long Overdue Finance Sector Opening Not Silver Bullet

September 17 , 2022

The debate shortly after the Council of Ministers nodded a bill to open the financial...

Export Performance Seems Impressive. Details Say Otherwise

September 10 , 2022

Ethiopia's policymakers and wonks began planning the economy and directing its course...

Gallery

Parliament Approves New Cabinet Members

October 6 , 2021

Parliament Approves New Cabinet, Incorporates Opposition Leaders Lawmakers have approved today the nominations of 22 ministers, including three opposition leaders. Two MPs have voted against, while 12 abstained...

2020 in Posterity

January 5 , 2021

TIGRAY VOTES DESPITE "NULL & VOID" THREAT

September 9 , 2020

IN-PICTURE: LAUREATE'S RECEPTION  

December 14 , 2019

PM Abiy Ahmed (PhD) at a Gala Dinner Called for the Awarding of the Félix Houphouët-Boigny Peace Prize

May 6 , 2019

Faces, Voices of Addis Abeba

April 26 , 2019

Sunday With Eden

Gated Community But Not at the Heart

Almost five months into our marriage, my husband and I moved to a new neighbourhood a...

The Hardest Act to Forgive, and Yet Forgiven

As we navigate life, being hurt by others is inevitable. Often, we find ourselves in...

Life Matters

Age Like Fine Wine, and Own It

There is the view that women should either have to shave off a couple of years (or a decade) from their age or not say at all how old they a...

Consumed by Cosmetics

The enormous amount of money generated by the beauty industry amazes me. How we, as consumers, take the words of producers for granted and t...