The Ministry of Trade and Industry notes the concerns raised by the Trinidad and Tobago Automotive Dealers Association dated December 13, 2023 on the exemption of Duties, Motor Vehicle Tax and Value Added Tax on both new and used hybrid and electric vehicles.
It informs the public that by Act No. 16 of 2021:
- Customs Act;
- Schedule 2 to the Value Added Tax Act; and
iii. the Fourth Schedule of the Motor Vehicle and Road Traffic Act, were amended to provide that all taxes (customs duty, motor vehicle tax and value added tax) be waived in respect to new and used electric vehicles that do not exceed two (2) years from the date of manufacture.
Additionally, by Legal Notice Nos. 109, 110 and 111 of 2022 dated 24th May 2022, all taxes (customs duty, motor vehicle tax and value added tax) are waived on new and used passenger hybrid motor cars for private use that contain both an engine size not exceeding 1,599 cc and an electric motor output not exceeding 105 KW, effective Wednesday May 25, 2022.
The permissible age, in in the case of a private used hybrid vehicle, is not exceeding 3 years old from the date of manufacture.
The existing waiver of taxes relative to new and used hybrid vehicles and new and used CNG vehicles, which are imported for commercial, is still applicable.
These incentives currently do not have an end-date and any change(s) to the current waiver of taxes on the above will be publicly announced and be accompanied by the necessary statutory instrument to give effect to any change(s) in the future.