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Motorists wait at a traffic light on a street in Phnom Penh on January 11, 2021. (Photo by TANG CHHIN Sothy / AFP)
Cambodian government adjusts import/export tariffs and special taxes for over a thousand goods, with the special tax for electric vehicles reduced from 40% to 10%.
According to a prime ministerial decree issued by Prime Minister Hun Sen on June 2, the government has decided to adjust the customs general’s list of import/export tariffs, including import/export tariffs and special taxes.
The goods subject to adjustment exceed 1,000, covering agriculture, manufacturing, mining, food and beverages, as well as automotive trade, among others.
Among them, the government has decided to significantly reduce the special import tax for household and commercial electric vehicles, with the special tax for household electric vehicles reduced from the original 40% to 10%; while the special tax for commercial electric vehicles has been reduced from 30% to 10%.
The government has also decided to reduce the special import tax for a variety of vehicles, with a reduction of 5% to 10%, including hybrid cars and passenger vehicles.
The import special tax for motorcycles has also been reduced, with the special tax for motorcycles with engine displacement not exceeding 250cc reduced from 25% to 10%; while the special tax for motorcycles with engine displacement between 251 and 800cc has been reduced from 25% to 15%.
In addition, the import special tax for various automotive and motorcycle accessories, including seat belts and helmets, has been reduced to 0%.
In addition, the import special tax for a variety of goods has been increased, including foreign energy drinks that have been heavily promoted through the media recently, with the import special tax increased from the original 10% to 15%.
Some minerals that were previously exempt from import taxes have been subject to a 25% special tax, mainly stone.
On the other hand, in order to promote the diversification of export goods and export trade, the government has also decided to reduce the export tax for a variety of goods, with some chemicals, wood products, and agricultural products enjoying tax-free export.
At the same time, the government has also decided to increase the export tax for some minerals, including iron ore, manganese, and other minerals, with the export tax increased from the original 10% to 25%.
In addition, the export tax for stone has also been increased from 10% to 20%.
It is worth mentioning that the Cambodian government formulated a policy in 2021 to encourage urban residents to choose to purchase electric vehicles, including the plan to make the import tax for electric vehicles 50% lower than that for general vehicles.
According to the carbon neutrality plan submitted by the Cambodian government to the United Nations, the government commits to having electric vehicles and buses accounting for 40% of the total in cities by 2050, and electric motorcycles accounting for 70%.
