BUSINESS

EXEMPTION OF IMPORT DUTIES, EXCISE ON CBU EVS EXTENDED UNTIL DEC 31, 2024 -- MOF

08/10/2022 12:45 AM

KUALA LUMPUR, Oct 7 (Bernama) -- The government has proposed to extend the import duty and excise exemptions for imported Complete Built-Up (CBU) electric vehicles (EVs) until Dec 31, 2024 to support the use of EVs, according to the Ministry of Finance (MoF).

Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the government is also proposing to provide an exemption on the approved permit (AP) fee for imports of EVs until Dec 31, 2023.

“EV charger manufacturers will also be given a full income tax exemption on statutory income starting from assessment year 2023 to assessment year 2032, as well as an investment tax allowance of 100 per cent," he said while presenting Budget 2023, themed ‘Keluarga Malaysia, Makmur Bersama’ at the Dewan Rakyat today.

He noted that Tenaga Nasional Bhd has also committed to installing solar rooftops and providing EV charging facilities with an investment totalling RM165 million up to 2025.

Additionally, Petronas subsidiary, Gentari Sdn Bhd, has also committed to installing solar panels at government and commercial facilities starting from 2024 and providing 500 EV charging facilities nationwide, he added.

--BERNAMA

 

 


 


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