Cabinet approves tariff free import of EV’s

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The Government has given the cabinet approval to import new rechargeable electric vehicles without a customs tariff.

Accordingly, new electric vehicles not exceeding USD 30,000 could be imported into the country.

This decision was taken in order to attract new investments. Insurance and shipping charges related to projects that fulfill the required criteria will also be included in the exemption, which was approved in a bid to attract various investments under the programs.

The proposal, furnished by President Ranil Wickremesinghe in his capacity as the Minister of Finance, Economic Stabilization, and National Policies, was approved by the Cabinet of Ministers at their meeting held on Monday (September 11).

The relevant proposal was approved by the Cabinet, aiming to encourage the manufacturing of electric vehicles locally.

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