Update: The Ismail Sabri Government Budget is no longer applicable. Malaysia’s national budget for 2023 was re-tabled again in February 2023.
To Download Revised Budget 2023 Speech and some other related publications – https://www.ccs-co.com/post/budget-2023-malaysia-madani
Current Position
Imported Completely Built-Up (CBU) Electric Vehicles (EV) consisting of passenger vehicles (including SUV and MPV), motorcycles and commercial vehicles are subject to duties and taxes as follows:
In Budget 2022, full import and excise duty exemptions are given on imported CBU EVs from 1 January 2022 until 31 December 2023.
Proposal
To encourage domestic demand for EVs in line with the Low Carbon Mobility Blueprint, EV Roadmap and National Automotive Policy 2020, as well as considering the global shortage of automotive chips, it is proposed full import duty and excise duty exemption on imported CBU be extended for a period of 1 year.
Effective Date
From 1 January 2024 until 31 December 2024.
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