Tuesday, May 30, 2023

Tax rate on entry-level

electric vehicles increased
Onlinekhabar
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Tuesday, May 30, 2023

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Representational image: An electric car

Kathmandu, May 30

The government has increased customs

duties on entry-level electric vehicles.

The government has increased the customs

and excise duty up to 15 per cent on entry-
level electric cars, jeeps and vans, which are
in high demand and are in use in Nepal.

The Finance Ministry has reduced taxes on

mid-range EVs while it has not significantly
increased taxes on high-end EVs.

This, experts say, is opposite to the

government’s policy of increasing electricity
consumption and moving towards zero
carbon emissions.

Customs Excise Excise

Customs
duty duty duty
EV duty-
– – –
Capacity 2023/24
2022/23 2022/23 2023/24
(%)
(%) (%) (%)

50
10 10 0 0
KW

50 –
100 10 15 0 10
KW

100
–
30 20 30 20
200
KW

200-
45 40 45 45
300

300
KW 60-
60 60 60
and 80
above

Old and new tax rates on EVs.

According to the new budget, the government

has increased customs and excise tax on
electric cars between 50 to 100 kilowatts by 5
and 10 per cent respectively.

Vehicles in that bracket will now have to pay

15 per cent customs tax and 10 per cent
excise duty. Previously, these vehicles did not
have to pay excise duty.

Due to the new rate of tax, 100-kilowatt

capacity vehicles will be 20 to 22 per cent
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