During the reading of the National Budget 2021–2022 the Minister of Finance, the Honourable Colm Imbert, made a step forward in attempting to reduce emissions from the transport sector in T&T.
He announced the removal of all taxes from electric vehicles and said that the move was in keeping with the Government’s commitment to promote a green economy and reduce our carbon footprint.
He said, “I propose to remove all custom duties, motor vehicle tax and value-added tax on the importation of battery-powered electric vehicles with an age limit on imported, used, battery-powered electric vehicles of 2 years.”
Minister Imbert added, “This measure will take effect from January 1, 2022 and will be reviewed after two years.”
The announcement made by Minister Imbert was certainly welcomed as Minister of Energy and Energy Industries, the Honourable Stuart Young, also recently made statements alluding to the introduction of an electric vehicle policy.
Speaking at the launch of the NP Preysal Service Station, where the first public solar charging station was installed, Minister Young said, “I am thrilled to see the first electric charger portal for electric vehicles”. He added, “This Ministry, with the Ministry of Planning, is preparing a Cabinet Note to seek approval to open this up with a number of incentives, a number of policies, to get electric vehicles progressing in TT. [This is] something that, I am adamant, has to happen in the coming weeks so it can begin to be implemented.”
The NP Preysal Service Station is the first fuelling station that includes 320 solar panels and battery storage, which powers the service station and a electric vehicle charging station. Further information is provided in the article on pg 07