Import of electric cars to Armenia to be exempted from VAT for another year

YEREVAN, November 21. /ARKA/. Import of electrical vehicles to Armenia will be exempted from VAT for another year until January 1, 2025, Deputy Minister of Economy Narek Teryan said on Tuesday.

Currently, vehicles with electric motor are exempted from VAT until January 1, 2024.

Speaking at a parliamentary discussion on amending the Tax Code Teryan noted that due to the exemption from VAT and customs duties, the import of electric vehicles to Armenia has increased. 

Imports of electric cars to Armenia were first exempted from VAT in 2019. In 2020, electric cars were also exempted from customs duties.

As a result, imports of electric cars to Armenia increased 12 times in 2020, and by 80% in 2022 amounting to 3,485. In the first 10 months of 2023, some 4,195 electric cars were imported. -0-

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17:15 11/21/2023