The government has approved a program today that provides state support for the temporary importation of electric vehicles not represented by the members of the EAEU beginning on November 30. Preliminary estimates suggest that there are approximately 9,000 temporarily imported electric vehicles in Armenia, totaling around 44.3 billion drams for the year 2023. These figures are based on the assumption that these vehicles will undergo temporary customs clearance for the purpose of free circulation.

Among these electric vehicles, about 1,200 have a release date of up to 5 years, while the remaining 7,800 have a release date of more than 5 years. With this breakdown, it is projected that during the temporary customs clearance, approximately 7.8 billion drams can be collected for electric vehicles up to 5 years old, and around 3.6 billion drams for electric vehicles over 5 years old.

In light of these figures, it is suggested that electric vehicles temporarily imported by individuals be exempted from 40% of customs duties and taxes according to HS code 8703 for vehicles with a release date of up to 5 years, and from 70% of customs duties and taxes for vehicles with a release date of more than 5 years.

This proposal would result in a refund of approximately 3.1 billion drams (40% of 7.8 billion drams) for electric vehicles up to 5 years old, and around 25.6 billion drams (70% of 36.5 billion drams) for electric vehicles over 5 years old. Consequently, the state would face a budgetary loss of approximately 15.6 billion drams due to the release and refund of these electric vehicles.

Importantly, this mechanism will be in effect until December 31, after which citizens will no longer receive reimbursement from the government and will be required to pay the full 100% of customs duties.