Import of Electric Vehicles in Armenia Exempt from VAT for Another Year

In Armenia, entrepreneurs will be exempt from paying VAT (value-added tax) for the import of electric vehicles for another year. This decision was made during a government meeting.

The Minister of Economy, Gevorg Papoyan, noted that the existing exemption from VAT will be extended for large, medium, and small electric buses, passenger cars, motorcycles, and mopeds produced after 2024.

The minister informed that these vehicles are currently exempt from VAT until January 1, 2026. “This exemption has been in place since 2019 and considering the positive results recorded to date, we have deemed it appropriate to extend the exemption until December 31, 2026. I would like to remind that there is also an exemption from customs duties for imports from third countries,” the minister stated.

He mentioned that according to EAEU regulations, in 2022 Armenia imported 7,000 electric vehicles annually, with a quota of 8,000 electric motor vehicles for 2023, 2024, and 2025, under which no customs duties are charged.

According to Papoyan, the volumes of imports to Armenia have increased due to the exemptions from VAT and customs duties. The minister stated that as of 2023, the import volume of electric vehicles amounted to 9,635 units, reflecting a 75 percent increase compared to 2022. The import volume for 2024 is projected to reach 11,793 units, a 22 percent increase compared to 2023, and from the beginning of 2025 until October 17, 14,888 units have been imported, which is 3,000 vehicles more than the entire previous year.