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Zero Import Duties For Hybrid Vehicles

The zero fiscal and import excise duties on the importation of new hybrid motor vehicles will continue. To decrease tax burdens on taxi operators, the fiscal import duty on second
30 Jun 2017 10:29
Zero Import Duties For Hybrid Vehicles
Hybrid Cars

The zero fiscal and import excise duties on the importation of new hybrid motor vehicles will continue.

To decrease tax burdens on taxi operators, the fiscal import duty on second hand hybrid cars for taxi businesses has been reduced to half the subsisting specific rate for two years. This incentive will only apply to taxi operators who have only one taxi.

And, the importation of new non-hybrid cars with engine size less than 2500 cc (cylinder capacity) will attract a five per cent fiscal import duty and zero import excise.

New vehicles with over 2500 cc engine capacity will attract a fiscal import duty of five per cent and import excise duty of five per cent.

These two incentives will apply for all taxi operators for two years.

The fiscal import duty on new parts for motor vehicle is reduced from 15 per cent to 5 per cent. Similarly, fiscal import duty on new engines for motor vehicles is reduced from 15 per cent to five per cent.

The fiscal import duty on batteries and cells used for hybrid vehicles is reduced from 32 per cent to five per cent.

The importation of statutory written off vehicles such as vehicles damaged by flooding or hail is now prohibited.

Edited by Karalaini Waqanidrola

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