Prime Minister Dato’ Seri Najib has announced in Budget 2012 that the 100% exemption of import duty and excise duty for new CBU hybrid and electric cars be extended for another 2 years, with effect from 1 January 2012 to 31 December 2013.
This is part of the efforts from the Malaysian Government to promote “Green Products” in tackling climate change and increase the awareness of protecting our environment among the Malaysians.
Presently, franchise holders of hybrid and electric cars are given 100% exemption of import duty and excise duty on new completely-built-up CBU) hybrid and electric cars.
The exemption was initially given for only one year commencing from 1 January 2011 until 31 December 2011, subject to certain criteria and conditions.
The increase in the use of hybrid and electric cars would be a catalyst to promote local assembly of hybrid and electric cars in the country and ensure sustainable growth of the nation.
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