of Malaysia Revised Budget 2023 (Bajet 2023) is currently being presented by finance minister and prime minister Datuk Seri Anwar Ibrahim in parliament. As with previous editions, we will follow his speech on any automotive and transportation related issues.
The original table of the Budget 2023 by the previous administration in October 2022 announced that imported complete electric vehicles (CBUs) would be exempt from import duties and excise taxes. until December 31, 2024extended for one more year from The previous end date was December 31, 2023.
More EV deals could be announced today, based on broad hints that have emerged in this regard. Last month, the minister of natural resources, environment and climate change Nik Nazmi Nik Ahmad said that the government intends to offer additional EV incentivesand earlier this week, the minister of international trade and industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the proposed incentives have been submit to the Ministry of Finance.
Also is expected to be included in the revised budget is an announcement of a targeted fuel subsidieswhich Anwar talked about was a topic that he want to solve it as quickly as possible.
In addition to auto-related issues, we’ll also be looking for any infrastructure and public transport news. Live updates on these will be posted here, so stay tuned.
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In his statement, Anwar said there was a need to fix leaks due to waste and irregular payments/collections, which came to light in the Auditor General’s reports for 2020 and 2021. , which revealed that there had been a loss of nearly $3 billion. ringgit compensates for the loss of wages. An example of this is in the collection of vehicle import taxes, when the government has loss of 72 million RM due to weak import tax collection process.
There is also a leak in the implementation of diesel subsidies, with an estimated RM10 billion worth of diesel subsidies being embezzled last year.
Absorb license check costs
The government will bear the cost of the B2 motorcycle driving test (under 250 cc),
It will also reduce the cost of taxis, buses and PSV . e-scooter license check fees
electricity tariff
Electricity prices have been maintained for all domestic consumers and SMEs, but electricity prices for all large companies (except those in the food and agricultural sectors) have been increased. . This means there will be no cost impact when charging an electric vehicle at home.
airport upgrade
The government said it plans to expand and enhance the capacity of Penang International Airport and Subang Airport.
