Tax exemption extension to boost electric vehicle sales

The extension for import duty and excise tax exemption for completely built-up units (CBU) electric vehicles (EVs) under Budget 2023 will increase EV sales in Malaysia and boost industries associated with it.

Malaysia Automotive Association (MAA) president Aishah Ahmad said the association is grateful for the extension announced by the government even though initially it had hoped for an extension of up to 10 years.