Transport Minister, Anthony Loke has said that the government is set to announce a new road tax structure for electric vehicles (EVs) in Malaysia by the year’s end, Bernama reports.
He says that the Ministry of Transport (MOT) are in the midst of studying and crafting a new road tax structure for such vehicles, taking into account feedback from car manufacturers and suppliers alike that says many users have been left wondering what’s the next step for EV road tax.
Under Budget 2022 drafted by the previous government, EVs are exempt from paying road tax beginning 1-Jan 2022 to 31-Dec 2025. At the same time, all EVs are also excepted from import and excise duties, of which locally-assembled (CKD) EVs will be tax-exempt till end 2027.
Also read: Budget 2022: Zero tax for BEVs, zero road tax too, with RM 2.5k income tax rebates
Loke explains that it’s crucial to address owners’ concerns over what happens once this exemption period is over.
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“Users are worried about the EV road tax structure because if we follow the old formula of calculating road tax, it may reach about RM 4,000 to RM 5,000 and this will give a big impact to them,” he explained.
“If road tax is expensive, then it will not encourage people to switch to EVs. So it’s a certainty that policies need to cater to the users to adopt to EVs,” he clarified.
Anthony also stated that he will discuss with the Ministry of Finance regarding the road tax structure and other incentives to encourage the public to embrace the use of EVs in the 2024 Budget. “This could be one of the things that I will pay attention to in next year’s budget.”
By implementing a better road tax structure and exploring additional incentives, the Malaysian government aims to facilitate widespread adoption of electric vehicles (EVs).
Also read: BYD: CKD EVs in Malaysia possible but highly dependent on government policy
Source: New road tax structure for EVs in Malaysia set to be announced by end-2023, says Transport Minister