Budget Speech 2081: New Tax Rates for Electric Vehicles in Nepal
New EV Tax Rates Introduced in Nepal’s Budget Speech 2081
Nepal’s Budget Speech for the fiscal year 2081 has introduced revised tax rates for electric vehicles (EVs), based on their motor power output (measured in kilowatts or kW). This new tax structure aims to classify EVs by performance and apply customs and excise duties accordingly:
EVs with motor power up to 50kW: 10% customs duty, no excise duty
Up to 100kW: 15% customs duty, 5% excise duty
Up to 200kW: 20% customs duty, 15% excise duty
Up to 300kW: 40% customs duty, 35% excise duty
Above 300kW: 60% customs duty, 50% excise duty
In summary, the more powerful the EV, the higher the tax burden. These updated rates reflect Nepal’s evolving strategy for regulating electric vehicles, promoting fairness based on performance and energy consumption.
Budget Speech 2081:
CC | PRESENT 2080 | NEW 2081 | ||
Duty | Excise | Duty | Excise | |
50KW | 10.00 | 0.00 | 15.00 | 5.00 |
100 KW | 15.00 | 10.00 | 20.00 | 15.00 |
200KW | 20.00 | 20.00 | 30.00 | 20.00 |
300 KW | 40.00 | 45.00 | 60.00 | 35.00 |
300 KW Above | 60.00 | 60.00 | 80.00 | 50.00 |
Addition: RDF (Road Development Fund) and 13% VAT remains the same.