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Electric Vehicles - Tax Benefits & Incentives_20.09.19

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 Blu-Smart has carried out a comparative of India Vs countries like China, Belgium, Germany, Italy and many more with respect to electric vehicle policies, tax benefits  & incentives applicable.

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Electric Vehicles - Tax Benefits & Incentives_20.09.19

  1. 1. Electric Vehicles: Tax Benefits & Incentives Global Comparative
  2. 2. Electric Vehicle: Tax Benefits & Incentives Abbreviations Interpretation BEV Battery electric vehicle FCEV Fuel-cell electric vehicle PHEV Plug-in hybrid electric vehicle EREV Extended-range electric vehicle HEV Hybrid electric vehicle CNG Compressed natural gas LPG Liquefied petroleum gas E85 Blend of 85% ethanol fuel and 15% petrol or other hydrocarbon Current global market focus has shifted to Electric Vehicles due to its own attractiveness. India is one of them of and growing at a much faster pace. Blu-Smart has presented country –wise policy, tax benefits and incentives for EVs.
  3. 3. Electric Vehicle: Tax Benefits & Incentives COUNTRY ACQUISITION TAX BENEFITS OWNERSHIP INCENTIVES AUSTRIA • VAT deduction and exemption from tax for zero-emission cars (eg BEVs and FCEVs). • Exemption for zero-emission cars. • Incentive scheme (until end of 2020): • €3,000 for new BEVs and FCEVs • €1,500 for PHEVs and EREVs BELGIUM • Brussels and Wallonia: minimum rate for BEVs. • Flanders: BEVs and FCEVs (emitting 50g CO2/km or less) are exempt until end of 2020. • Brussels and Wallonia: minimum rate for zero-emission vehicles. • Flanders: BEVs and FCEVs (emitting 50g CO2/km or less) are exempt until end of 2020. • Brussels: financial incentives for companies to buy electric, hybrid or fuel-cell vehicles. • Flanders: purchase incentives for BEVs and FCEVs (cars and vans only). BULGARIA ▬ • Exemption for electric vehicles. ▬ CHINA • Exemption from Purchase Tax till 2020 • In China, the subsidy is based on the driving range of battery electric vehicles (BEVs), which increases as the driving range rises. • The central subsidy for BEVs ranged from 31,500 Yuan ($4,854) to 54,000 Yuan ($8,322). • In the case of Plug-in Hybrid Electric Vehicles (PHEVs), the subsidy was 31,500 Yuan ($4,854) in 2015. • In addition to the central subsidy, EVs also received subsidies from local governments. • China intends to build 12,000 charging stations by 2020, which can accommodate five million EVs. Local governments could receive RMB 90 million ($14 million) to build charging stations starting from 2019. • Vehicle manufacturers will be assessed in terms of fuel consumption and EV production in order to qualify for new energy credits. To obtain these new energy credits, manufacturers will need to produce a minimum number of EVs, and the amount of credits they receive will be based on factors such as driving range and EV weight. • Shanghai has waived EV drivers’ license plate fee, which is about RMB 100 thousand ($15,900). Such incentives are especially attractive to consumers in China. CROATIA ▬ ▬ ▬ CYPRUS • Exemption for vehicles emitting less than 120g CO2/km. • Minimum rate for vehicles emitting less than 120g CO2/km. ▬
  4. 4. Electric Vehicle: Tax Benefits & Incentives COUNTRY ACQUISITION TAX BENEFITS OWNERSHIP INCENTIVES CZECH REPUBLIC • Exemption from registration charges for BEVs and FCEVs emitting 50g CO2/km or less (upon request of a special number plate). • Exemption for alternatively- powered vehicles (ie electric, hybrids, CNG, LPG and E85). ▬ DENMARK • Exemption for FCEVs until 31/12/2021. • BEVs and PHEVs pay 20% of the tax in 2019 (set to increase to 40% in 2020, 65% in 2021, 90% in 2022 and 100% in 2023). • Reduction for BEVs and PHEVs of up to DKK 40,000 in 2019 and DKK 77,500 in 2020. • Special rules apply to BEVs, PHEVs and FCEVs. ▬ ESTONIA ▬ ▬ ▬ FINLAND • Minimum rate for zero-emission vehicles. • Minimum rate for zero- emission vehicles. • Purchase incentive of €2,000 granted for new BEVs, provided value does not exceed €50,000. FRANCE • Regions have the option to provide an exemption (either total or 50%) for alternatively-powered vehicles (ie electric, hybrids, CNG, LPG and E85). ▬ • Bonus‐malus scheme: bonus of up to €6,000 for vehicles emitting 20g CO2/km or less. Vehicles under 117g CO2/km exempt from penalty. • Scrappage scheme: up to €5,000 for purchase of second hand or new BEVs and PHEVs. GERMANY ▬ • 10-year exemption for BEVs and FCEVs registered between 1/1/2016 and 31/12/2020. • Environmental bonus: €4,000 for BEVs and FCEVs €3,000 for PHEVs and EREVs
  5. 5. Electric Vehicle: Tax Benefits & Incentives COUNTRY ACQUISITION TAX BENEFITS OWNERSHIP INCENTIVES GREECE • Exemption for electric vehicles (ie zero-emission vehicles). • Exemption for electric cars and cars emitting 90g CO2/km or less registered after 31/10/2010. ▬ HUNGARY • Exemption for BEV and PHEV cars. • Exemption for BEV and PHEV cars ▬ INDIA • 9 Indian states namely, Andhra Pradesh, Delhi, Karnataka, Kerala, Maharashtra, Telangana, Uttarakhand, Uttar Pradesh, Tamil Nadu have issued their individual draft/final EV policies till date. • 12 State Electricity Regulatory Commissions (SERCs) have also issued tariffs for EV charging. These are Andhra Pradesh, Chhattisgarh, Delhi, Gujarat, Haryana, Jharkhand, Karnataka, Madhya Pradesh, Maharashtra, Punjab, Telangana and Uttar Pradesh. • The Joint Electricity Regulatory Commission (JERC) for Union Territories also issued electricity tariff for EVs in Chandigarh. • 1.5 Lac Income Tax deduction on interest payments on loan taken for purchase of Evs. • GST Rates reduced to 5% on EVs. Customs Duty on certain parts of Electric Vehicles being exempted to promote e-mobility. FAME II Scheme aims to encourage faster adoption of EVs by right Incentives and Charging Infrastructure. IRELAND • Reduction for: • BEVs up to €5,000 (31/12/2021) • PHEVs €2,500 (until 31/12/2019) • HEVs €1,500 (until 31/12/2019) • Minimum rate (€120) for electric vehicles. • Purchase incentives: • Up to €5,000 for BEVs (until 31/12/2021) • Up to €5,000 for PHEVs (until 31/12/2019) ITALY ▬ • Five-year exemption for electric vehicles from the date of first registration. • After this period, 75% reduction of the tax rate applied to equivalent petrol vehicles. • Bonus-malus scheme: • Bonus: a one-off amount (max €6,000 for cars emitting 20g CO2/km or less) at registration of the vehicle (between 1/3/2019 - 31/12/2021). • Malus: up to €2,500 for cars emitting more than 250g CO2/km.
  6. 6. COUNTRY ACQUISITION TAX BENEFITS OWNERSHIP INCENTIVES LATVIA ▬ • Exemption for cars emitting 50g CO2/km or less registered after 31/12/2009. ▬ LUXEMBOURG • Tax relief: • €5,000 for BEVs and FCEVs • €2,500 for PHEVs • Minimum rate for vehicles emitting 90g CO2/km or less. ▬ MALTA • Minimum rate for vehicles emitting less than 100g CO2/km. • Minimum rate for vehicles emitting less than 100g CO2/km. ▬ NETHERLANDS • Exemption for zero-emission cars. • Exemption for zero-emission cars. ▬ POLAND • Exemption for BEVs and PHEVs (not in effect yet 1 ). ▬ ▬ PORTUGAL • VAT deduction for BEVs (with value of less than €62,000) and PHEVs (with value of less than €50,000). ▬ ▬ ROMANIA ▬ • Exemption for electric vehicles. • Scrappage scheme: • €10,000 for BEVs (plus €1,500 for scrapping a vehicle older than eight years) • €4,500 for new HEVs Electric Vehicle: Tax Benefits & Incentives
  7. 7. COUNTRY ACQUISITION TAX BENEFITS OWNERSHIP INCENTIVES SLOVAKIA • Minimum rate (€33) for BEVs. • Exemption for BEVs. ▬ SLOVENIA • Minimum rate (0.5%) for vehicles emitting less than 110g CO2/km. ▬ • Incentive scheme: • €7,500 for BEVs (cars) • €4,500 for BEVs (vans and heavy quadricycles) • €4,500 for PHEVs (cars and vans) and EREVs • €3,000 for BEVs (light quadricycles) 2 SPAIN • Exemption for vehicles emitting less than 120g CO2/km. • Reduction of 75% for BEVs in main cities (eg Madrid, Barcelona, Zaragoza, Valencia, etc). • Incentive scheme for BEVs, FCEVs, PHEVs, EREVs: • Up to €5,500 for cars • €6,000 for vans • €8,000 for medium vehicles (M2, N2) • €15,000 for heavy vehicles (M3, N3)2 SWEDEN ▬ ▬ • Incentive scheme: • SEK 60,000 for BEVs • SEK 10,000 for PHEVs emitting less than 60g CO2/km UNITED KINGDOM • Exemption for BEVs and cars emitting less than 50g CO2/km (from April 2018 until March 2021). • Exemption for zero- emission vehicles. • Government grants (through dealers): • Cars: 35% of purchase price BEVs, up to £3,500 • Vans: 20% of purchase price BEVs, up to £8,000 UNITED STATES • Preference in HOV lane, Parking, Registration Privileges, • Emission Benefits • Tax credits, Rebates and Grants Electric Vehicle: Tax Benefits & Incentives
  8. 8. Thank You Fleet of Smart All Electric Cabs

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