Now this is a very interesting bit of news. As part of Malaysia’s Budget 2022 announcement, the government is proposing – important thing to note here – that EVs in Malaysia will not be taxed at all, which should help with the adoption of EVs locally.
So what does this mean? Well, there will be no import duty, excise duty, or sales tax applied to the sales of EVs in Malaysia. Needless to say, this is a very, very big deal – if it comes to fruition.
Aside from that, EVs on the road will also be exempted from road tax. There will also be an income tax relief of RM2,500 for the cost of buying, installing, and renting of EV charging facilities.
However, it’s important to note that this is merely a proposal by the government right now; we’ll have to wait and see if this will eventually be implemented in the near future. If this proposal gets the green light, we reckon the adoption of EVs will be very encouraging in Malaysia.