KATHMANDU: It has been revealed that hundreds of electric vehicles were imported to Nepal just before the new budget hiked the tax.
The budget for the fiscal year 2020/21 has hiked the tax on electric vehicles.
The budget presented by Finance Minister Yuba Raj Khatiwada has increased the custom duty by 80 percent on jeeps cars, vans.
There has been a provision in the budget that if the electric vehicles are imported, 50 percent tax will be waived off.
That means 40 percent of the custom tax would be charged on electric vehicles when imported.
Earlier, the tax on the electric vehicles was only 10 percent.
After being tipped off that the custom duty on electric vehicles was being hiked, the vehicles had been imported well ahead of the budget, according to sources.
Sources claim that the information was leaked by the Ministry of Finance itself enabling the entrepreneurs to reap huge benefits.
A source at the custom office said entrepreneurs must have imported the electric vehicles having known that the government was hiking the tax on the vehicles.
A high level official at the custom office said around 200 electric vehicles were imported two days before the Ministry of Finance was giving a final touch to the budget on May 27.
According to the source, 120 electric cars of MG brand are among those imported vehicles.
According to a source at the Ministry of Finance, a team member involved in the preparation of the budget leaked the information about it.
Comment