October 25, 2013

Budget 2014 - No Tax Exemption for Hybrid Cars?

 Budget 2014 was announced earlier today by our Prime Minister Datuk Seri Najib Tun Razak, which covered from the 6% Goods and Services Tax (GST) to aid for low income households. Unfortunately, there is no mention about incentives for hybrid cars in his speech.

Currently, the import tax and excise duty of hybrid cars are exempted, enabling Malaysian to afford hybrid cars at a more reasonable price. However, this benefit is only available up to 31st of December 2013, which is the last day of this year. If the exemption is abolished, Malaysian will not have affordable pricing for some popular hybrid cars such as the Honda Jazz Hybrid at RM90k and Toyota Prius at RM140k, not to mention the luxurious Lexus CT200h at RM170k and Audi A6 Hybrid at sub RM300k price.

 Hopefully some sort of announcement will be made before the end of this year to rectify about this issue. Same goes to the fate of electric vehicle (EV). The tax exemption for green cars should be continued as they produce lesser harmful emission to the environment and provide saving in petrol bill. Let's hope the fate of hybrid tax exemption won't be the same as sugar!

*UPDATE: Good news! National Automotive Policy (NAP) will continue to provide incentives for hybrid cars and Energy Efficient Vehicle (EEV).

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7 Gossips:

Anonymous said...

from which source u got the "update"?

*UPDATE: Good news! National Automotive Policy (NAP) will continue to provide incentives for hybrid cars and Energy Efficient Vehicle (EEV).

any solid proof?

SiMon Har said...

Anonymous: It's according to Utusan news: http://www.utusan.com.my/utusan/Ekonomi/20131028/ek_01/Insentif-hibrid-EEV-diteruskan

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