Kathmandu. The budget has provided double support to the promotion of liquor industrialists and electric vehicles. The budget has rejected the increase in taxes on electric vehicles and liquor.
It was expected that the tax on electric vehicles would increase amid pressure from resources to the government. However, the Finance Act 2082 has kept the tax rate unchanged by giving a surprise to the EV vehicle seller.
Businessmen had stocked 5,000 vehicles before May 14, saying that the tax rate would be increased like in other years. Similarly, Finance Minister Bishnu Prasad Poudel has exempted VAT on electric vehicle charging station construction materials.
The absence of tax hike and VAT exemption has brought double benefits to EV entrepreneurs. Similarly, domestic liquor industrialists have also got double benefits. Minister Poudel has refused to increase the tax on liquor and beer this time. Similarly, it has been decided to impose tax on the import of foreign liquor in liters. Foreign liquor becomes expensive as the tax on the price costs more than before. This will help in expanding the domestic liquor market.
Similarly, customs duty on import of foreign cigarettes has also been increased. Tax on domestic cigarettes has also been increased. Vat on digital payments has been removed.
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