Sales tax rate on locally made electric vehicles will be 1%, tweeted Federal Minister Hamad Azhar.
According to details, Federal Minister Hamad Azhar in a message released on Twitter said that the rate of one percent sales tax on locally manufactured electric vehicles will be up to 50 kW while on light commercial vehicles it will be up to 150 kW. Will be imposed.
Explaining the details of tax matters related to electric vehicles in a tweet, Federal Minister Hamad Azhar added that the duty on charging devices would be one per cent, while the import of plants and machinery for the manufacture of electric vehicles would be duty free.
The cabinet has approved an electric vehicle policy for four-wheelers, but the policy will remove AST (Accelerated Sales Tax) and additional customs duties on the import of electric vehicles.
He clarified in the message that as per the policy for manufacturers, only one per cent tax has been imposed on the import of parts for electric vehicles but the registration and annual renewal fee for electric vehicles in information communication technology has also been abolished.
It may be recalled that locally manufactured electric vehicles in Pakistan have been declared as environmentally friendly and low budget vehicles which will be easily used by the people.
