Sunday, April 14, 2024

Electric vehicle tax rolls out

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Owners of electric vehicles now have until May 2 to pay the $300 Alternate Fuel Levy.

The measure, which was announced in the 2022 Budget by Prime Minister Mia Mottley, went into effect on April 1 this year.

At the time of the announcement, it was to be calculated at the rate of  $25 per month plus $0.02 per km over 15 000 kms annually and was to be rolled out on July 1, 2022.

The variable component, which is two cents for each kilometre in excess of 15 000 kilometres per financial year, has to be paid to the Barbados Revenue Authority on or before March 30, 2024. (Nation News)

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