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Budget 2023 – all auto and transport-related points

Budget 2023 – all auto and transport-related points

Budget 2023 – all auto and transport-related points

Malaysia’s revised Budget 2023 (Bajet 2023) is presently being tabled by finance minister and prime minister Datuk Seri Anwar Ibrahim in parliament. As with previous editions, we will be monitoring his speech for any automotive- and transport-related matters.

The original tabling of Budget 2023 by the previous administration in October 2022 brought the announcement that fully-imported (CBU) electric vehicles would be exempt from import and excise duties until December 31, 2024, an extension of a year from the previous end date of December 31, 2023.

More EV incentives could be announced today, given the broad hints that have already come about on the matter. Last month, natural resources, environment and climate change minister Nik Nazmi Nik Ahmad said that the government intends to offer additional EV incentives, and earlier this week minister of international trade and industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz said that proposed incentives had been submitted to the finance ministry.

Also expected to be included in the revised budget is the announcement of a targeted fuel subsidy, which Anwar has said is a topic he wants to address as quickly as possible.

In addition to automotive-related matters, we’ll also be looking out for any public transport and infrastructure news. Live updates on these will be posted here, so stay tuned.

The post Budget 2023 – all auto and transport-related points appeared first on Paul Tan's Automotive News.

* This article was originally published here
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