Does the BYD Qin Need to Pay Purchase Tax?

[HaileyMarie]

BYD Qin does not need to pay purchase tax and is exempt from purchase tax and vehicle and vessel tax. Introduction to Purchase Tax: Purchase tax is a tax levied by tax authorities on the acquisition of specified goods and properties within the scope of the purchase tax system. For example, vehicle purchase tax is a tax levied on units and individuals who purchase specified vehicles within China. It evolved from the vehicle purchase surcharge. New Energy Vehicles Exempt from Vehicle Purchase Tax: New energy vehicles exempt from vehicle purchase tax include pure electric vehicles, plug-in hybrid vehicles, and fuel cell vehicles. The BYD Qin falls under the category of new energy vehicles and can benefit from policy subsidies and full exemption from purchase tax.