RM300k tax deductions for companies leasing EVs; 1,246 charging stations in Malaysia currently – Anwar
During yesterday’s launch of the Maxus MIFA 9, prime minister Datuk Seri Anwar Ibrahim said the government remains committed to granting tax deduction of up to RM300,000 to companies leasing non-commercial EVs – this incentive under Budget 2023 (Bajet 2023) is effective from year of assessment 2023 until 2025 (refer to page 131). He added the government is currently fulfilling its promise to waive road taxes for EVs until the end of 2025.
Anwar, who is also finance minister, also reiterated the government’s initiatives to grow the local EV market, including import and duty exemptions on fully-imported (CBU) EVs until the end of 2025, while it is until the end of 2027 for locally-assembled (CKD) EVs. This was announced in February this year, where it was also stated the import tax exemption period for components used in local CKD assembly of EVs would be extended to end-2027.
Additionally, Anwar reaffirmed the government’s pledge to install 10,000 electric vehicle (EV) charging stations throughout the nation by 2025, adding that there are currently 1,246 operational public charging stations.
In his speech, Anwar said, “as we chart our course towards a more environmentally sustainable future, we are committed to setting up 10,000 electric vehicle charging stations throughout Malaysia by 2025. At present, we have 1,246 operational public charging stations, signifying just the initial phase of a robust charging infrastructure that will facilitate the widespread adoption of electric vehicles.”
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