News - Electric car imports to Armenia to be exempted from VAT for another year

The preferential conditions set for the import and alienation of vehicles with an electric motor to Armenia will be extended for another year. Deputy Minister of Economy Narek Teryan announced this during the debates on the bill on introducing amendments in the Tax Code at Tuesday’s special session of the National Assembly of Armenia. In other words, these benefits will be extended until January 1, 2025. Electric vehicles in Armenia are currently exempt from value added tax (VAT) in the country until January 1, 2024. "As a result of exemption from VAT and customs duties, the amount of import of electric cars to Armenia has increased. In 2022, 2,681 electric cars were imported to Armenia, which is 42.3 percent more than in 2021. What is more, already in January-November 2023, imports [of electric cars] from third countries amounted to about 4,496 units; compared to the same period of 2022, the growth was double," Teryan noted.