Thursday, July 7, 2022
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Importing electric vehicles to Armenia is 32% cheaper than ICE cars

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EDITOR'S CHOICE

The government of Armenia defined a tariff privilege for electric vehicles being imported to Armenia.

Minister of Economy Vahan Kerobyan said at the Cabinet meeting that back in March, 2022 the Eurasian Economic Commission Council adopted a decision that granted every member state a certain amount of quotas for imports of e-cars as part of customs-tariff privileges.

“Within this framework imported electric cars are exempt from customs duties. Armenia has taken 7000 quotas given that the number of electric vehicles being imported is significantly rising,” Kerobyan said, adding that the privilege will cover 6400 cars because they want to keep a certain reserve for brand new cars, the import of which takes longer.

The decision takes effect against e-cars imported since January 1, 2022, and persons who’ve imported since then are entitled to apply to the government and receive their payments back. The decision is in effect for companies as well, but since March 31.

Armenia has a quota of 8000 e-cars for next year, he added.

PM Pashinyan underscored that thus the first 6400 electric vehicles to be imported to Armenia will be exempt from customs duties.

“Let me remind that back in 2019-2020 the imports of electric cars was exempt from value added tax. This means that electric cars can be imported to Armenia 32% cheaper than ordinary cars with internal combustion engines. Therefore I think this is truly a very good opportunity for electric cars to be imported to Armenia. I’d like to emphasize that naturally this is also a good occasion to make investments in electric re-charging and maintenance sectors, which is very important,” the PM said.

Ara D. Kassabian CPA, based in Glendale, California, provides a full range of tax preparation, accounting and bookkeeping services, either in your facility or at our location. Making it quick and easy to file your taxes.

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Ara D. Kassabian CPA, based in Glendale, California, provides a full range of tax preparation, accounting and bookkeeping services, either in your facility or at our location. Making it quick and easy to file your taxes.

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