Malaysia ready to offer handsome tax incentives for Electric Vehicle development — MARii

Malaysia is ready to offer a handsome tax incentive to accelerate the electric vehicle (EV) development in the country in its soon-to-be announced accelerated EV policy under the National Automotive Policy (NAP) 2020. Malaysia Automotive, Robotics and IoT Institute (MARii) CEO Datuk Madani Sahari said the government has prepared an acceleration policy on EV. “Currently, we are implementing customised incentives, depending on your economic benefits, the incentive will be customised accordingly. But under the new EV accelerated policy, there are fixed incentives. “There is one part of fixed incentives in terms of the excise duty, import duty and sales tax, in terms of what users and industry are going to enjoy. “But on top of that, if you are bringing into Malaysia something extraordinary, we are willing to consider even higher level of incentives and that one will be customised exactly to the level that you are bringing into the country,” he said during the webinar session with EUROCHAM Malaysia’s Automotive Sector Committee on “A New Start for EV In Malaysia” today.

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