Switzerland has announced that it will end the tax exemption for electric vehicles (EVs) starting from January 1, 2024. The decision was made by the Swiss Federal Council, which stated that the exemption is no longer necessary due to the rapid increase in EV adoption in recent years. EVs will now be subject to a 4 percent import duty along with other vehicles.
The council highlighted that the annual import of EVs has surged nearly sixfold from 2018 to 2022, reaching around 45,000 units. In the first half of this year alone, approximately 30,400 EVs were imported, reflecting a 66 percent increase compared to the same period last year. The council aims to use the additional funding from EV owners to address tax receipt shortcomings and contribute to the country’s motorway and urban transportation fund. The change is expected to generate an additional revenue of CHF 2 billion to CHF 3 billion (~$2.22 billion to ~$3.34 billion) between 2024 and 2030.
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