Individuals will have to pay an annual multiple ownership fee if they register more than one vehicle of the same type or more than two vehicles of different types for private use under the new Land Transport Act.
The act, which was ratified yesterday, introduces the fee under Article 99. The charge applies when the number of vehicles registered to a private individual or legal entity exceeds two, or when more than one vehicle of the same type is registered to the owner.
The fee is based on engine capacity for motorcycles and other vehicles, while heavy vehicle fees are determined by carrying capacity.
Multiple ownership fees
The multiple ownership fee which will come into force six months after the enactment of the Land Transport Act, is divided into two categories: motorcycles and electric bicycles, and other vehicles.
Rates for motorcycles:
- Below 50cc: MVR 360 per year
- 50cc–below 100cc: MVR 720 per year
- 100cc–below 150cc: MVR 1,296 per year
- 150cc–below 200cc: MVR 2,304 per year
- 200cc–below 400cc: MVR 12,960 per year
- 400cc and above: MVR 17,280 per year
Cars, vans and jeeps registered beyond the permitted number will incur annual fees ranging from MVR 4,320 to MVR 22,480, depending on engine capacity.
For heavy vehicles, the annual fee will range from MVR 3,600 to MVR 15,000, depending on the vehicle’s carrying capacity.
