Key Points
Indonesia and Thailand are offering tax incentives, lower import taxes, and value-added tax breaks to attract electric vehicle manufacturers..
India is implementing schemes to attract EV companies, while VinFast Auto and BYD plan to enter the Indian market.Agencies..
In its latest bid to boost the uptake of environmentally friendlier cars as well as attract investment to its domestic EV industry, Indonesia has announced plans to remove luxury tax on EVs for the 2024 fiscal year and import tax until the end of 2025..
Many EV makers have disclosed plans to launch vehicles in Indonesia since the government announced its intention to introduce incentives, said Rachmat Kaimuddin, deputy coordinating minister overseeing the EV sector's development...
The support for companies will come in the form of special tax deductions granted to eligible companies, effective until December 2025, it said.. Companies buying vehicles manufactured domestically will be able to deduct expenses of two times the actual price of the vehicles, without a price ceiling being set..
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