Kathmandu-The government has changed the basis of taxation levied on electric vehicles (EVs).
The tax, which was previously based on the motor's peak power, will now be levied based on the vehicle's price.
The government modified the taxation framework altogether after the Office of the Auditor General pointed out that tax evasion was occurring when EV taxes were based on peak power.
Amidst speculations that the tax would be levied based on vehicle size or battery capacity, the government has instead introduced a system to tax electric vehicles based on their value.
Although Finance Minister Wagle stated that the tax would be based on price, he did not specify whether it would apply to the FOB (Free on Board) price or the CIF (Cost, Insurance, and Freight) value upon arrival at the customs point.
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