(Photo: Summit Art Creations/Shutterstock)
The Finance Ministry's budget proposal for 2024 includes an end to the sales tax breaks for electrical vehicles compared to gas-powered ones, as well as an end to or reduction of government subsidy of new charging stations, according to a report by Globes.
According to the plan, the sales tax on electrical vehicles will rise from its current rate of 35% to 50% in 2025, 57% in 2026, and 65% in 2027, effectively equalizing with the sales tax paid for gas-powered cars.
The budget also includes an end to or reduction of government subsidy of new charging stations, although this decision will not affect existing stations.