
Selling a car does not require paying personal income tax. Generally, cars are sold at a depreciated value, resulting in a negative increase in value, so no personal income tax is required. Fees involved in selling a car: The fees for selling a car mainly include agency fees, transfer fees (usually 0.5% of the vehicle's assessed value), vehicle fees, inspection fees, and invoicing fees. These fees can be agreed upon by both the buyer and seller, and there is no regulation specifying which party must bear them. Calculation method for personal income tax on car sales: Income from selling a car falls under income from property transfer and is subject to a tax rate of 20%. The calculation method is the actual income from selling the car minus the original purchase price and related fees, with the remaining balance multiplied by 20%. Typically, the income from selling a car is lower than the original value of the car, resulting in a negative tax base, so naturally, no tax is required.


