Incentives for Electric Vehicles to be Extended: National Assembly Discusses the Draft Bill

The duration of existing incentives for electric vehicles will be extended until January 1, 2024. The draft law amending the Tax Code of the Republic of Armenia was presented at a National Assembly session by Deputy Minister of Environment Gayane Gabrielyan.

"It is proposed to extend the deadlines for the import and disposal of exclusively electric vehicles, particularly large, medium, and small buses, passenger vehicles, motorcycles, and mopeds until January 1, 2024," said Gabrielyan.

Alongside the tax exemption set by the tax code, the EAEU's decision has eliminated import duties for electric passenger vehicles until December 31, 2021.

Gegham Nazaryan from the 'Armenia' faction inquired about how many companies are currently engaged in the import of electric vehicles and whether there is a dominant company in this sector. The deputy minister responded that the government is not currently exercising oversight over companies, as electric vehicles are imported by both private and legal entities, as well as individuals. There is significant interest from companies regarding infrastructure development.

Rhipsime Stambulyan, a member of the opposition 'Armenia' faction, noted that this draft was developed during the previous government's tenure and is indeed a catalyst for the import of electric vehicles in the market. The deputy expressed satisfaction that the current government has also approved the bill.