As a result of the innovations, a number of categories of special equipment, motorcycles, boats, and trailers imported into the country are now exempt from value-added tax (VAT).
The exemption affects the following goods:
- outboard motors for boats;
- mopeds, motorcycles, and their spare parts;
- single cargo trailers;
- motorboats and boats up to 7.5 meters in length;
- canoes and recreational yachts.
The Cabinet explained that this measure is aimed at improving public safety, developing transportation infrastructure, and increasing the accessibility of transport.
The decree will come into effect in ten days.
