JAKARTA – Indonesia has lowered its value-add tax on battery-based electric vehicle sales to 1 percent from 11 percent to encourage the adoption of EVs, a government ministry said on Monday, amid efforts to attract investment into domestic production,
The incentive came into effect this month and will remain in place until the end of the year, the Coordinating Ministry of Maritime and Investment Affairs said in a statement.Indonesia is stepping up efforts to lure investment into domestic production of EV batteries and EVs to utilize its rich reserves of nickel, which is processed for battery production.
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