Formula for Vehicle Purchase Tax?
1 Answers
Vehicle purchase tax = vehicle price excluding tax * vehicle purchase tax rate. The current vehicle purchase tax rate is 10%, and the VAT rate is 13%. The specific calculation formula is: vehicle purchase tax amount = vehicle price including tax / 1.13 * 10%. The following are the characteristics of vehicle purchase tax: 1. Single scope of taxation: As a property tax, the vehicle purchase tax is levied on specific vehicles purchased, rather than on all property or consumer goods. It has a narrow scope and is a type of special property tax. 2. Single collection point: The vehicle purchase tax is levied only once. It is not collected at every stage of production, operation, or consumption, but only at the specific point when the vehicle exits circulation and enters the consumption field. 3. Single tax rate: The vehicle purchase tax is levied at a single uniform proportional rate. The rate does not vary with the amount of the taxable object, making the calculation simple and the burden stable, which is conducive to tax administration according to law.