The Government Has Decreased Taxes For Electric Vehicles — Here Are The New Rates
The Minister of Finance, Bishnu Prasad Paudel, released the new budget for the fiscal year 2021/2022 about a week ago. The budget allocation came as a surprise, as it drastically extended the government’s social welfare provisions.
Along with that, the new budget also repealed last year’s disastrous increase in electric vehicle taxes. Now, the customs taxes on EVs have been drastically decreased while the excise duty has been removed completely.
The new policy is going to make a massive difference in the final showroom prices of EVs in Nepal. A number of companies have already released updated prices of electric vehicles in Nepal for 2021.
Here are the updated prices of electric vehicles in Nepal for the year 2021.
MG ZS EV
The MG ZS EV is one of the most preferred electric vehicles in Nepal at the moment. Its sleek crossover design and mid-range price have made it an attractive option. Now, this silent machine will be available for 1 lakh less.
The distributors of Kia Motors in Nepal, Continental Associates Pvt Ltd hadn’t updated their prices for the Kia Nero after the budget announcement of last year. So, the change in price does not reflect last year’s increase in EV taxes.
Tesla Model 3
Arete International has been importing the Tesla Model 3 in Nepal for about a year. It has already sold 15 Teslas in the last year alone. Now, Tesla enthusiasts will have it a bit easier to purchase a new Model 3.
Fifty units of the Hyundai Kona have been sitting in customs since the tax hike last year. Now, they can finally come down to the showroom and be sold to customers at a reasonable price.
These are the formally updated prices of existing EVs on the Nepali auto market. What do you think of this latest change in the EV taxes? Follow us and let us know in the comments.