Tax rate on entry-level electric vehicles (EVs) increased
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-ranged 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 . EV Capacity Customs duty – 2022/23 (%) Customs duty- 2023/24 (%) Excise duty – 2022/23 (%) Excise duty – 2023/24 (%) 50 KW 10 10 0 0 50 – 100 KW 10 15 0 10 100 – 200 KW 30 20 30 20 200-300 45 40 45 45 300 KW and above 60 60-80 60 60 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 ...