While car companies around the world have begun to increase production of electric models, which will give way to increased sales on the island, a sector that, although starting to recover, still retains a 1% market penetration, in Puerto Rico it is planned to tax the sector. …
Finance Minister Francisco Pare explained that the government is seeking to simplify the country’s tax system. For cars, it is proposed to introduce two rates: a preferential rate for electric vehicles, a segment that does not pay excise taxes today, and a higher rate for conventional vehicles.
Regarding the initiative to tax electric vehicles, while looking to increase their sales, Paré explained that the tax component is not the only factor that is taken into account when purchasing them, but at the same time ensures that they can be stimulated in various ways. that were not disclosed.
The projection for the island is that 40% of units will be electric by 2030, and to that end, the automotive sector has pledged that it needs the Puerto Rican government to promote better access and more infrastructure to use it. Load Centers in Different Institutions and Lower Energy Costs