BUSINESS

BUDGET WISHLIST: EXTEND ZERO SST, MORE SUBSIDIES TO SUPPORT BUS INDUSTRY

21/02/2023 11:32 AM

KUALA LUMPUR, Feb 20 (Bernama) -- Bus manufacturer Gemilang International Ltd (GML) hopes the government could extend the zero sales and service tax (SST), import duty and excise duty to electric vehicles as well as to electric chargers and associated equipment and software for Budget 2023.

Chairman and chief executive officer Pang Chong Yong said this is to support the nation’s bus industry and the industry’s shift towards green mobility.

“However, we do not encourage tax exemption and duty-free incentives on completely built-up buses as there are many bus body builders in Malaysia who could assemble electric buses.

“Hence, it would be sufficient when only electric bus chassis are tax exempted and duty exempted. This is to protect the local manufacturing industry,” he said in a statement, today.

Additionally, he hopes the government will introduce corporate tax allowance to bus operators.

Meanwhile the company also proposed the government to extend the Green Technology Incentives covering Green Investment Tax Allowance (GITA) and Green Income Tax Exemption (GITE), to call for banks to lower the interest rate and implement a longer installment plan for hire purchase of electric vehicles (EV).

Besides that, GML also calls for the government to offer subsidies for cleaner, quieter and safer school buses for children.

-- BERNAMA


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