The Trade Ministry says all taxes are to be waived in respect to new and used electric vehicles that do not exceed two years from the date of manufacture.

This statement comes as it takes note of concerns raised by the T&T Automotive Dealers Association regarding the exemption of Duties, Motor Vehicle Tax and Value Added Tax on both new and used hybrid and electric vehicles.

The Ministry says by Act No. 16 of 2021, the Customs Act; Schedule 2 to the Value Added Tax Act; and the Fourth Schedule of the Motor Vehicle and Road Traffic Act, were amended to allow the waiver.

Additionally, it says by Legal Notice Nos. 109, 110 and 111 of 2022, all taxes (customs duty, motor vehicle tax and value added tax) are waived on new and used passenger hybrid motor cars for private use that contain both an engine size not exceeding 1,599 cc and an electric motor output not exceeding 105 KW.

It adds that the permissible age, in the case of a private used hybrid vehicle, is not exceeding 3 years old from the date of manufacture.

Additionally, it says the existing waiver of taxes relative to new and used hybrid vehicles and new and used CNG vehicles, which are imported for commercial, is still applicable.

The Ministry says these incentives currently do not have an end-date and that any change to the current waiver of taxes will be publicly announced and accompanied by the necessary statutory instrument.