License tax exemption for electric cars extended to 2018

Taipei, Jan. 16 (CNA) Lawmakers passed an amendment Friday that will allow local governments to extend an exemption to the vehicle license tax for electric cars through 2018, a move that is expected to help growth in Taiwan's nascent electric automobile industry.

Prior to the amendment, the current Vehicle License Tax Act allows exemptions for cars powered entirely by electricity through Jan. 5, 2015.

The bill was proposed by the Executive Yuan to promote the use of electric vehicles in the pursuit of green energy and environmental sustainability.

According to Ministry of Finance statistics, the number of electric cars entitled to the tax exemption has grown to 574 last year from 319 in 2012.

The tax savings for vehicle owners from the exemption totaled nearly NT$4 million (US$127,000) in 2014, almost double the NT$2 million in 2012.

(By Tai Ya-chen and Elizabeth Hsu)ENDITEM/WH