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Budget 2022/23: Excise Duty And Customs Reduction For Car Manufacturing Industries
Budget 2022/23: Excise Duty And Customs Reduction For Car Manufacturing Industries
Team Nepal Drives
May 29, 2022
May 29, 2022
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The Government is committed to promoting the establishment of vehicle manufacturing and assembling industries. Presenting the budget for the fiscal year 2079/80 today, Hon. Finance Minister Janardan Sharma has announced that the government will provide incentives for companies looking to establish an electric four-wheeler industry in the country.The government has announced to provide a 40 percent income tax exemption for electric car assembling industries on their earnings for five years. Similarly, companies looking to assemble combustion engine cars will get a waiver of 50 percent on the excise duty and 25 percent on customs duty. Moreover, companies manufacturing electric scooters will only attract a 1 percent tax.
Published Date: 2022-05-29 19:36:15
#Budget 2022/23
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