Tax exemption only on electric vehicles: Minister Khatiwada

Kathmandu / August 27: Finance Minister Dr Yubaraj Khatiwada has urged industrialists and entrepreneurs to pay tax honestly.

Inaugurating NADA Auto Show 2019 at Bhrikuti Mandap, Kathmandu on Tuesday, Minister Khatiwada accused entrepreneurs of tax evasion through the import of petrol and diesel vehicles claiming them to be electric. “The government has a policy of tax exemption only for the electric vehicles, so I urge you to run your business honestly,” said Khatiwada.

Minister Khatiwada said that the vehicles that run 90 percent from fuel and only 10 percent from electric energy are not exempted from taxation. He also reiterated that the government is ready to protect and promote those entrepreneurs wishing to set up electric vehicle plants.

Speaking at the event, NADA Automobiles Association Chairperson Shambhu Dahal demanded excise duty exemption on vehicle accessories. Dahal also criticized the government for not holding discussions with entrepreneurs before implementing the PAN card.

The show will last until September 2.