Business
EY busts myth that electric vehicles are a drain on tax revenue – The Driven
New analysis by EY busts myth that EVs are a drain on government revenue, and says if one quarter of car fleet went electric, total benefit would be $4.4 billion.
Are electric vehicles a drain on government tax revenue? It’s an important question because the general assumption is that yes, they are, and that idea is being used by some lobbyists pushing for a “road user” tax on EVs to “plug the hole” in revenue from petrol excise.
A new report from accounting giant EY, however, says the idea that EVs are a drain on government taxes is wrong. In fact, the new report argues, replacing a petrol of diesel car with an EV will deliver a $1,370 benefit to govern…
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