T&T removes taxes and import duties on electric vehicles – CARICOM Business

File Photo| Electric vehicles on display
294

Effective January 1, 2022, Trinidad and Tobago will be removing all custom duties, motor vehicle tax and value added tax on the importation of battery-powered electric vehicles with an age limit on imported used battery-powered electric vehicles of two years.

This policy will be subject to review after two years have elapsed.

In August, the government said plans were underway to increase the penetration of electric vehicles in keeping with T&T commitments to the Paris Agreement called the Nationally Determined Contributions. A consultant has been engaged by the United Nations Environment Programme and Denmark Technical University (DTU/UNEP), to develop funding proposals for the instalment of ultra-fast solar electric vehicle chargers.

Extract from CARICOM BUSINESS Vol 4 No. 40

Click on Image below to read full Newsletter

Comments are closed.

%d bloggers like this: