Kathmandu. More than 5,000 electric vehicles are expected to enter the country before May 15. A large number of traders are bringing vehicles saying that the Economic Act 2082 can increase the tax.
The customs duty on electric vehicles and petroleum vehicles is very different now. Compared to petroleum vehicles, EV vehicles have been charged very low customs duty. After the Finance Ministry almost decided to increase customs duty on EV vehicles, the businessmen are importing vehicles by opening letters of credit (LC).
According to the Customs Department, more than 5,000 EV vehicles are expected to arrive in 14 days of May. This accounts for 40 percent of annual vehicle imports. It is estimated that new vehicles will be sold annually at 12,000 rupees in the Nepali market. Cymex Inc., which sells Chinese car ‘Build Your Dream’ BYD, is going to stock the largest number of vehicles. According to company sources, the company had stocked 800 to 1,200 EV vehicles before last year’s budget. This time too, there is a plan to stock 800 to 1200 vehicles. Similarly, Laxmi Hyundai, which is gradually entering EV vehicles, is also planning to stock 300 to 500 EVs before the budget.
MAW Growth, which sells Chinese electric vehicles, is also preparing to stock 300 to 500 vehicles. Similarly, Paramount Motor Pvt Ltd, which sells MG vehicles, has already stocked 300 to 600 vehicles. The company is also planning to stock cherry brand Omoda cars brought by Sharada Group from 300 to 500 rupees. Other brands are also stocking vehicles as per their capacity.
At present, the customs rads of Tatopani Customs Office and Rasuwa Customs Office are full. Around 700 vehicles have been parked at the Tatopani Customs Office alone. According to the office, rs 250 million revenue was collected on Monday alone. The office has a daily target of Rs 65 million. Tax collection is five times more than the target. The Office of the Auditor General of Nepal has written in arrears alleging that customs has been evaded by showing less than kilowatts in EV vehicles. In the fiscal year 2080/81 BS alone, customs evasion amounting to Rs 3.72 billion was committed from Tatopani Customs and Rasuwa Customs Office alone.
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