Nepal | July 14, 2020

Automobile association asks govt to withdraw taxes on EV

Himalayan News Service
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KATHMANDU, MAY 31

NADA Automobiles Association of Nepal has urged the government to withdraw its announcement of increasing the excise duty and imposing customs tax on electric vehicles (EVs).

Announcing the budget for next fiscal year, Finance Minister Yubaraj Khatiwada had announced imposition of 80 per cent customs duty on EVs, along with 40 per cent to 80 per cent excise duty, depending on the capacity of the vehicles.

Issuing a press statement today, NADA has stated its opposition to the government’s announcement. “Earlier, government had announced it would subsidise EVs following which automobile investors gradually started investing in import of EVs, EV workshops and charging stations. However, the government’s decision on increasing tax is discouraging for the investors,” reads the statement.

The statement further mentioned that the government has moved against its own promise of promoting EVs. “The government’s double standard decision has put investors’ investment at risk.

Hence, NADA requests the government to take needful action to support the investors,” the statement adds.

The statement has also highlighted another of the government’s double standard policy of importing vehicles.

The government had made a policy allowing only authorised sellers of respective brands to import vehicles of those particular companies. However, Finance Bill 2020 has mentioned that any seller can import vehicles by paying 30 per cent penalty. This fundamentally means there is no role of authorised sellers or dealers and there won’t be any responsibility of the manufacturing company regarding this issue, statement reads.

“Moreover the same kind of provision has been arranged to import second-hand vehicles which has made the country a dumping site for such vehicles,” reads the statement.

Thus, NADA has requested the government to amend the bill as both of the provisions are against the welfare of automobile investors. Meanwhile, it has also recommended the government to lift the lockdown instead of extending it.

“Since March 24 the country is in a lockdown due to which the country’s economy has shattered and industries are struggling to bounce back. Considering the dwindling economy of the country NADA suggests the government to lift the lockdown,” added the statement.

A version of this article appears in e-paper on June 1, 2020, of The Himalayan Times.

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