After Over 25 Years, Switzerland Will No Longer Give Electric Cars Tax Breaks. Here’s Why – SlashGear

In the first half of 2023 alone, JustAuto reported that around 30,400 e-vehicles were imported into Switzerland, which is already 66% higher than the preceding year.

Additionally, the Swiss government is looking to manage its tax losses in an effort to secure funding for its high and urban transport fund. In doing so, it cites a temporary reduction from its mineral oil tax.

If the tax exemption continued, the Swiss Federal Council estimated a windfall between two billion ($2.26 billion) to three billion Swiss francs ($3.94 billion) from 2024 to 2030.

However, KPMG shares that automobiles will no longer be subjected to any customs duty (tariff number category 87) with the abolishment of Swiss industrial tariffs effective on the same date, which cover all goods except agricultural and fishery products.

Lastly, it cites how the move is in alignment with its budget adjustment concept, which the Federal Council adopted earlier this year.