Are Electric Vehicles Subject to Purchase Tax?
1 Answers
Pure electric vehicles are exempt from purchase tax. Below is relevant information about vehicle insurance: 1. Vehicle Purchase Tax: This is a tax levied on entities and individuals purchasing specified vehicles within the country, determined by the vehicle's ex-factory price and engine displacement. The latest vehicle purchase tax rate is 10%, with no room for negotiation. 2. Motor Vehicle Insurance: Also known as auto insurance, it is a type of commercial insurance that covers personal injury or property damage caused by natural disasters or accidents involving motor vehicles. 3. Compulsory Traffic Insurance (CTI): CTI is mandatory insurance that must be purchased, with a nationally unified premium standard. However, the number of vehicle seats can affect the CTI premium amount.