Govt reduces sales tax on local electric vehicles from 17% to 1%

Auto

Under the Auto Industry Development and Export Policy, the government decided to provide incentives for electric vehicles (EVs) (AIDEP 2021-26).

According to the paper obtained by Geo News, the policy intends to promote small automobiles, localization, incentives for the introduction of new goods in tractors and motorbikes, consumer protection, and the promotion of new technologies such as EVs and hybrids to target export markets.

According to the draught, which was presented by the Engineering Development Board of the Ministry of Industries and Production, custom duty on particular parts of electric vehicles has been set at 1%.

Customs duty on the import of completely built-up (CBU) EVs was reduced from 25% to 10% under the programme, while duty on particular parts of electric vehicle motorcycles, three-wheelers, and large commercial vehicles was set at 1%.

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