Malaysia’s revised Budget 2023 (Bajet 2023) is currently being tabled in Parliament by Finance Minister and Prime Minister Datuk Seri Anwar Ibrahim. As in previous editions, we’ll be keeping an eye out for his presentation on automotive and transport-related matters.
The 2023 Budget, tabled by the previous government in October 2022, initially announced that fully imported (CBU) electric vehicles would be exempt from import duty and excise duty until 31 December 2024, extending by one year from the previous end date of 2023 December 31st.
Given the widespread hints on the matter, more EV incentives may be announced today. Last month, Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad said the government intends to offer additional EV incentives, and earlier this week International Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the proposed Incentives have been submitted to the Ministry of Finance.
The revised budget is also expected to include the announcement of targeted fuel subsidies, a topic Anwar said he wanted to address soon.
As well as car-related issues, we’ll also be following all public transport and infrastructure news. Live updates on these will be posted here, so stay tuned.
absorption cost
The government will bear the cost of the riding test for B2 motorcycles (below 250cc), and the government will bear the cost of taxi, bus and online car-hailing licenses