Electric Vehicles Get A Huge Tax Reduction In Budget 2021

12 Jun 2021

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Electric Vehicles Get A Huge Tax Reduction In Budget 2021

The Federal Government has presented the budget 2021.The electric vehicles will get a big tax reduction as government wants to promote production and import of electric cars locally in the country.

Tax exemption has been given on the import of kits for local manufacturing of electric vehicles. The sales tax rate for these vehicles has been reduced from 17% to 1%. Federal excise duty and VAT on 850 cc locally made vehicles were abolished. The sales tax rate on them was reduced from 17% to 12.5%.

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Electric Vehicles Tax Reduction of electric vehicles Budget 2021 tax reduction

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