The Legislative Yuan today passed amendments to commodity and vehicle license tax laws for electric vehicles (EVs) that would extend an exemption of these taxes for an additional five years.
With exemptions of commodity and vehicle license taxes for those who buy EVs that were launched in January 2022 set to expire at the end of this year, the Legislative Yuan passed the amendments without objections, extending the preferential status to Dec. 31, 2030.
An amendment to the Commodity Tax Act (貨物稅條例) would extend the exemption of the commodity tax for EV purchases, but continue to limit it to a taxable value of NT$1.4 million (US$44,430) per EV, with amounts in excess of that not receiving tax-free status.
Photo: Taipei Times file photo
An amendment to the Vehicle License Tax Act (使用牌照稅法) would also extend the exemption of the license tax for another five years.
The commodity tax and vehicle license tax exemptions for EVs took effect in January 2011 and in January 2012 respectively, and have been extended several times, the Ministry of Finance said.
As of the end of last month, the EV commodity tax exemption had cost the treasury a cumulative NT$28.9 billion, while the EV vehicle license tax exemption had cost the government NT$9.2 billion, the ministry said.
Lawmakers from across party lines supported the extension, it said.
The exemptions would give consumers an incentive to buy low-polluting vehicles and help boost the penetration of EVs in the local vehicle market to benefit the environment and living standards, the ministry said.
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