Three Percent PPnBM for LCGC Not Necessarily Effective

By Editorial Team 13/08/2019
Summary

The government is ready to unveil fiscal incentives in the form of zero Sales Tax on Luxury Goods (PPnBM) to support electric car program; alluring automotive manufacturers join the competition in the environmentally friendly vehicle development. However, such incentives will likely take a toll on the zero PPnBM for low-cost and green cars (LCGC).

Since 2014, LCGC had enjoyed a zero percent PPnBM incentive, aiming to encourage the environmentally-friendly LCGC production. Car manufacturers competing to produce LCGC immediately welcomed such incentives. The government is discussing the possibility to impose three percent PPnBM to LCGC.

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