Indonesia lowers VAT on EV sales to 1% from 11%

Indonesia lowers VAT on EV sales to 1% from 11%

FILE PHOTO: Vehicles are seen in traffic jam during afternoon rush hour in Jakarta, Indonesia, May 27, 2021. REUTERS/Willy Kurniawan

Indonesia has lowered its value-add tax on battery-based electric vehicle sales to 1% from 11% to encourage the adoption of EVs, a government ministry said on Monday, amid efforts to attract investment into domestic production,