With tax incentives, 2,612 electric vehicles were imported, most of which went to Cochabamba

This Ministry of Economy and Public Finance release was published using machine translation.

La Paz, August 31, 2023 (MEFP). – Within the framework of tax incentives, between July 2021 and July 2023, the importation of electric and hybrid vehicles increased to 2,612 motorized vehicles that entered the vehicle fleet, promoting the change in the energy matrix, reduction in the consumption of hydrocarbons and environmental preservation.

Most of the electric and hybrid vehicles went to the department of Cochabamba, followed by Santa Cruz.

With the promulgation of Supreme Decree 4539, of July 7, 2021, a comprehensive policy for the use of electrical energy was established in order to contribute to improving the environment, saving and energy efficiency through tax and financial incentives. for the manufacture, assembly and import of electric and hybrid motor vehicles, as well as electric and hybrid agricultural machinery.

With the validity of this norm, the importation of electric and hybrid motor vehicles was motivated, which had an upward behavior, for example, between January and July 2021, 429 electric motorized vehicles were imported, in management 2022 it rose to 607 units and in Management 2023 registered 788 electric motorized.

Import by departments

Of the 2,612 electric and hybrid motor vehicles imported into the national market, the largest number went to the department of Cochabamba with 1,000 units, followed by Santa Cruz with 835, La Paz with 470 and Oruro 301, among the most representative that they incorporate into their fleet. automotive electric vehicles.

Among the main imported vehicles are trucks, wagons, cars in different models and motorcycles, equipment that generates more and more demand in the population due to the benefits and savings in fuel consumption, which shows that it is a correct measure that The President, Luis Arce Catacora, promotes, above all for the change in the energy matrix, the environment and the purchase of subsidized fossil fuel.

This policy of tax incentives to accelerate electro mobility, the Government ordered the installation of charging stations (Recharging Stations) in La Paz, Cochabamba, Santa Cruz and Oruro and in the coming years the coverage of these charging points will be expanded in the rest of the country.

tax incentives

With the validity of Supreme Decree No. 4539, tax and financial incentives are enabled for the use of electric and hybrid motor vehicles, electric and hybrid agricultural machinery.

With this measure, the import of electric vehicles is encouraged and they benefit from the omission of tariff payments such as Tariff Tax (GA), the payment of the Specific Consumption Tax (ICE) is reduced and users can access bank credits with rates preferential for the purchase and commercialization.

The same benefits mentioned apply to the import of electric and hybrid agricultural machinery with access to credits aimed at buying this technological equipment.

In the same way, the manufacture and/or assembly of automotive, electric, hybrid vehicles and electric agricultural machinery is encouraged. For the importation of this equipment destined for its manufacture or assembly, they do not pay import taxes such as GA, ICE or VAT.

Advantages of these teams

Among the main benefits, the consumption of clean energy is encouraged, the use of polluting fuels is progressively replaced and the emission of carbon dioxide is reduced to preserve the environment.

The State also benefits from this measure because it will represent less spending on fuel imports and the use of clean and efficient energy is encouraged.