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Sunday, January 23, 2022
HomeNewsBudget 2022: Full tax exemption for electric vehicles and RM2,500 personal tax...

Budget 2022: Full tax exemption for electric vehicles and RM2,500 personal tax relief for EV charging facilities

To promote the usage of energy-efficient vehicles with low carbon emissions, the Malaysian government has revealed several incentives including a full tax exemption for the purchase of electric vehicles. This was announced by Finance Minister Tengku Zafrul during the tabling of Budget 2022.

The minister said to promote the development of the local EV industry, the government proposes to provide full tax exemption for import duty, excise duty, and sales tax for electric vehicles. He also announced a 100% road tax exemption for EVs.

On top of that, individuals can also enjoy a personal income tax relief of up to RM2,500 for the cost of purchase and installation, rental and hire purchase as well as a monthly subscription for EV charging facilities.

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