Malaysia’s Budget 2024 (Bajet 2024) is being tabled by finance minister and prime minister Datuk Seri Anwar Ibrahim in parliament. As with past editions of the Budget, we will be monitoring his speech for any matters related to the automotive and transport sectors.
Among the key talking points this year has been the targeted subsidy programme, which the government expects to implement early next year, with its timeframe based on the scheduled launch of the Pangkalan Data Utama (PADU) socio-economic database this November.
Electrification is also expected to remain on the agenda, as Malaysian Automotive Association (MAA) proposed that new electrification incentives be given under Budget 2024, for all types of electrified vehicles (xEVs), and not just battery-electric vehicles (BEVs).
In the last edition that was the retabled Budget 2023, the current import duty and excise duty exemption for fully-imported (CBU) EVs has been extended to December 31, 2025, which was originally to end on December 31, 2023, before the first tabling of Budget 2023 saw this extended to December 31, 2024.
The same, too, was granted for locally-assembled (CKD) EVs. Originally set to run until December 31, 2025, it has been extended by two years to December 31, 2027.
In addition to automotive sector-related points, we will also be watching for news related to public transport and infrastructure. Live updates will be posted here, so stay tuned.
LIVE UPDATE POINTS
Diesel subsidy will move from blanket to targeted, in phases
Road upgrades across the country
Service tax to increase from 6% to 8% in 2024
The post Budget 2024 – all auto and transport-related points appeared first on Paul Tan's Automotive News.
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