Budget 2023: Import and excise duty exemption for CBU EVs extended for one more year, until 2024

At the ongoing tabling of Budget 2023, the Finance Ministry has confirmed that the current import and excise duty exemption for imported (CBU) battery electric vehicles (EVs) will be extended until 31-December 2024.

The exemption was supposed to expire by 31-December 2023.

Also read: Tax-free EVs? MAA clarifies condition of Sales Tax exemption for EVs in Malaysia

Also, the fee for Approved Permits (AP) to import EV models will be waived until 31-December 2023.

The RM 10,000 AP fees are only applicable for Open APs used by grey importers. 

New cars imported by authorized distributors which use a different Franchise AP, these don't require any additional fees, so the announcement will have no impact on prices of new EVs sold by authorised dealers.

Also read: Confirmed: 4 years free road tax for EVs, from 1-Jan 2022 to 31-Dec 2025