MTI: Tax breaks on clean energy vehicles have no end date

The Ministry of Trade and Industry said the waivers on taxes for clean energy vehicles do not currently have an end-date.

In a media release, the Ministry took note of the concerns over the vehicles raised by the Trinidad and Tobago Automotive Dealers Association on the exemptions of duties on new and used hybrid vehicles.

“Any changes to the current waiver of taxes will be publicly announced and be accompanied by the necessary statutory instrument to give effect to any changes in the future.

The Customs Act, schedule two of the Value Added Tax Act and the fourth schedule of the Motor Vehicle and Road Traffic Act were amended to provide that all taxes including customs duties, motor vehicle taxes and VAT, are to be waived for new and used electric vehicles that do not exceed two years from the date of manufacture.

“Moreover, the existing waiver of taxes relative to new and used hybrid vehicles and new and used CNG vehicles, which are imported for commercial, is still applicable,” the release said.