The Malaysian government has several incentives for electric vehicles (EVs) aimed at promoting the adoption of EVs in the country. Here are some of the main incentives available:
- Green Investment Tax Allowance (GITA)
Under the GITA scheme, companies that invest in green technology, including EVs, are eligible for a tax allowance of up to 100% of the qualifying capital expenditure incurred in the year of assessment. This incentive is aimed at encouraging businesses to invest in EVs and other green technologies.
- Electric Vehicle (EV) Infrastructure Allowance
The Malaysian Investment Development Authority (MIDA) offers a grant of up to RM 50,000 to companies that invest in EV charging infrastructure. This grant covers up to 50% of the total cost of installing the charging stations.
- Sales and Service Tax (SST) Exemption
The Malaysian government has exempted EVs from the sales and service tax until the end of 2023. This exemption is aimed at making EVs more affordable for consumers and increasing their adoption in the country.
- Import Duty and Excise Duty Exemption
The import duty and excise duty on EVs have been exempted until the end of 2023. This exemption is aimed at reducing the cost of importing EVs into Malaysia and making them more affordable for consumers.
- Road Tax Exemption
EVs in Malaysia are also exempt from road tax until the end of 2023. This exemption is aimed at reducing the overall cost of owning an EV in Malaysia.
These incentives, along with other initiatives by the Malaysian government, are aimed at encouraging the adoption of EVs in the country and reducing carbon emissions from transportation.
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