Taiwan MOF Announces Tax Incentives for New Vehicles

The Taiwanese Ministry of Finance June 2 announced tax incentives for taxpayers replacing old vehicles with new vehicles. The agency announced that a commodity tax exemption is available to taxpayers that purchase a new electric vehicle within six months of scrapping their old gasoline-fueled vehicle. The exemption applies from Jan. 1, 2022, through Dec. 31, 2025. The agency also announced the extension, to Jan. 7, 2026, of the NT$4,000 (US$136.40) commodity tax reduction or refund on the purchase of new gasoline-fueled motorcycles within 6 months of scrapping or exporting old motorcycles. [Taiwan, Ministry of Finance, 06/02/22]

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