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The government has increased taxes on electric vehicles in the budget for fiscal year 2081/82. Presenting the budget today, Finance Minister Barshaman Pun announced that customs and excise duties will now be based on the motor capacity of the vehicles, leading to higher taxes for various categories.
For electric cars with a motor capacity of up to 50 kW, the customs duty has been increased from 10% to 15%. This category, which previously had no excise duty, will now face a 5% excise duty as well.
For electric cars with a motor capacity between 51 kW and 100 kW, both customs and excise duties have been raised by 5%. The customs duty has increased from 15% to 20%, and the excise duty has gone up from 10% to 15%.
For electric cars with a motor capacity between 101 kW and 200 kW, the customs duty has been raised from 20% to 30%, while the excise duty remains unchanged at 20%.
Similarly, for electric cars with a motor capacity between 201 kW and 300 kW, the customs duty has been increased by 20 percent, from 40% to 60%. However, the excise duty for this category has been reduced by 10 percent, from 45% to 35%.
For electric vehicles with a motor capacity above 301 kW, the customs duty has been increased from 60% to 80%, while the excise duty has been reduced from 60% to 50%.
