Tax ease for hybrid vehicles

Government’s decision to lower the excise tax on electric vehicles for two years, which took effect last month, has been expanded to include hybrid vehicles.

This announcement was made by Minister of Energy Kerrie Symmonds, who disclosed that Prime Minister Mia Amor Mottley will provide the full details on the arrangement that will cover this category of vehicle at a later date.

During the Budget earlier this year, the Prime Minister announced the waiver of excise taxes and VAT on electric vehicles. This meant that for the next two years, electric vehicles will only bear import duties of ten per cent, bringing the cost considerably down.

The move was geared towards fast tracking Barbados’ push for greener economy, in keeping with the goal of 100 per cent carbon neutral by 2030. Following the announcement, questions were raised as to why hybrid vehicles were not included as part of the concession, as these vehicles also are in keeping with the goal of clean energy. (CLM)

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