GoM offering duty and tax exemptions on imported electric vehicles

Minister of Finance and Premier, Donaldson Romeo announced yesterday, Thursday at a rare press conference where he addressed or updated on the government’s ongoing economic growth strategy, that his government has agreed to the new policy in line with their green energy mandate.

One of the electric vehicle charging plant

He informed that as a result of the Cabinet decision regarding importing “green” vehicles, over the next five years 100% Electric Vehicles will be exempt from all customs duties and consumption tax; however, processing fees will still be payable. “Hybrid” electric vehicles are to be exempt from customs duties for the next two years.

Other “hybrids” (other than plug-in “hybrids”) are to be exempt from consumption tax for two years. Also, replacement batteries and charging stations will be exempt from customs duties and excise tax for five years. Currently, there are two electric vehicle charging stations, one at the Public Works workshop and one at the Ministry of Works.

Conditions apply: All must be certified by the Director of Public Works to receive the exemptions.

A processing  fee of five percent is payable in all cases.

The Ministry of Communications, Works, Energy and Labour (MCWEL) has received its first electric vehicle and is expected to unveil it shortly.

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Minister of Finance and Premier, Donaldson Romeo announced yesterday, Thursday at a rare press conference where he addressed or updated on the government’s ongoing economic growth strategy, that his government has agreed to the new policy in line with their green energy mandate.

One of the electric vehicle charging plant

He informed that as a result of the Cabinet decision regarding importing “green” vehicles, over the next five years 100% Electric Vehicles will be exempt from all customs duties and consumption tax; however, processing fees will still be payable. “Hybrid” electric vehicles are to be exempt from customs duties for the next two years.

Other “hybrids” (other than plug-in “hybrids”) are to be exempt from consumption tax for two years. Also, replacement batteries and charging stations will be exempt from customs duties and excise tax for five years. Currently, there are two electric vehicle charging stations, one at the Public Works workshop and one at the Ministry of Works.

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Conditions apply: All must be certified by the Director of Public Works to receive the exemptions.

A processing  fee of five percent is payable in all cases.

The Ministry of Communications, Works, Energy and Labour (MCWEL) has received its first electric vehicle and is expected to unveil it shortly.