The Armenian Minister of Economy, Narek Ter-Grigoryan, has announced that the conditions for the import and export of electric vehicles in Armenia will be extended for another year. This decision was made during the discussion of the draft law on amendments to the Tax Code on November 21 at the National Assembly.

Under the extended conditions, electric vehicles will continue to be exempt from the increased value-added tax until January 1, 2025. Currently, they are exempt until January 1, 2024.

The exemption from VAT and customs duties has had a positive impact on the import of electric vehicles in Armenia. In 2022, the country imported 2,681 electric vehicles, which represents a 42.3% increase compared to the previous year. Additionally, from January to November 2023, imports from third countries amounted to approximately 4,496 units, doubling the growth rate from the same period in 2022, as explained by Ter-Grigoryan.

This decision to extend the conditions for the import and export of electric vehicles in Armenia will likely contribute to the further growth of the electric vehicle market in the country. It demonstrates the government’s commitment to promoting sustainable transportation and reducing emissions.