ISLAMABAD: The government has decided to give tax exemption for electric vehicles under the new five-year auto policy.
According to the leaked documents, it has been decided to increase the sales tax on locally manufactured electric vehicles from 17% to 1% and customs duty on spare parts for electric vehicles to 1%.
The documents said that the customs duty on CBU imports of electric vehicles would be reduced from 25 to 10 per cent and the customs duty on electric parts of motorcycles would be one per cent.
According to the text, it was decided to reduce the sales tax on hybrid electric vehicles to 8.5% and the regulatory duty on imports of hybrid CBUs is likely to be reduced.
According to the documents, the regulatory duty on hybrid vehicles above 1800 cc will be reduced by 15% and it has been decided to reduce the regulatory duty on hybrid vehicles below 1800 cc to zero.
In addition, tough decisions were taken to ensure safety measures under the auto policy.
In this regard, it was decided that import and manufacture of vehicles would be banned if the vehicles did not meet the safety standards.
According to government documents, after June 30, 2022, there will be restrictions on non-compliance with safety standards.
Decision to give tax exemption for electric vehicles in new auto policy
ISLAMABAD: The government has decided to give tax exemption for electric vehicles under the new five-year auto policy.
According to the leaked documents, it has been decided to increase the sales tax on locally manufactured electric vehicles from 17% to 1% and customs duty on spare parts for electric vehicles to 1%.
The documents said that the customs duty on CBU imports of electric vehicles would be reduced from 25 to 10 per cent and the customs duty on electric parts of motorcycles would be one per cent.
According to the text, it was decided to reduce the sales tax on hybrid electric vehicles to 8.5% and the regulatory duty on imports of hybrid CBUs is likely to be reduced.
According to the documents, the regulatory duty on hybrid vehicles above 1800 cc will be reduced by 15% and it has been decided to reduce the regulatory duty on hybrid vehicles below 1800 cc to zero.
In addition, tough decisions were taken to ensure safety measures under the auto policy.
In this regard, it was decided that import and manufacture of vehicles would be banned if the vehicles did not meet the safety standards.
According to government documents, after June 30, 2022, there will be restrictions on non-compliance with safety standards.
