How is the purchase tax for a new car calculated?
4 Answers
2021 new car purchase tax is calculated as: new car price (including tax) ÷ 1.17 (17% VAT rate) × purchase tax rate. Below is relevant information about vehicle purchase tax: 1. Main meaning: Vehicle purchase tax refers to the tax payable when purchasing a car, with the tax amount being 10% of the vehicle's selling price (excluding tax). The taxpayers for vehicle purchase tax are units and individuals who acquire taxable vehicles (including through purchase, import, self-production, gift, award or other means for personal use), with a tax rate of 10%. In addition to cars, motorcycles, electric vehicles, trailers, and agricultural transport vehicles are also subject to vehicle purchase tax. 2. Collection standard: According to the provisions of the Ministry of Finance document [2000] No. 18: For enterprises acquiring taxable vehicles (including through purchase, import, self-production, gift, award or other means for self-use), the vehicle purchase tax paid in accordance with regulations should be included in the cost of the vehicle, as it belongs to the relevant taxes and fees for purchasing fixed assets.
A few days ago, I just helped a friend buy a new car and paid special attention to the purchase tax. The general calculation method is to simply divide the car's invoice price by 11.3 to estimate the approximate tax amount. For example, if your car costs 100,000 yuan, the purchase tax would be roughly 100,000 divided by 11.3, which is about 8,849 yuan. This is because the invoice price includes 13% VAT, so the tax base is 10% of the price after deducting VAT. This amount is paid separately when purchasing the car and is not included in the car price, so it's important to budget for it in advance. I recommend asking the salesperson for details when negotiating the price at the dealership. Currently, new energy vehicles like pure electric or hybrid models may be completely tax-exempt, saving you tens of thousands of yuan, which is a great deal. Also, don't forget that changes in tax rates can affect the overall cost. For instance, my friend chose an electric car and saved on taxes, using the extra budget to install a charging station, which greatly improved the experience.
Buying a new car is a major expense for our family, and the purchase tax cannot be overlooked. I've calculated the tax amount simply: roughly divide the invoice price by 11.3 for an estimate. For example, a 200,000-yuan car would have a tax of about 17,700 yuan. This additional cost affects our family savings, so we made a spreadsheet in advance to plan for the car loan and tax payments. The key is that current policies are favorable—electric vehicles are often tax-exempt. We chose an electric car and saved nearly 20,000 yuan, which we can use to enroll our son in an extracurricular class. In short, while the tax calculation isn't complicated, don't let it disrupt your budget. Check the invoice details when buying a car—the tax base is calculated at 10% of the price excluding VAT to avoid surprises later.
Vehicle Purchase Tax Calculation Directly: Tax Amount = Invoice Amount ÷ 1.13 × 10%. The invoice amount is the tax-inclusive price of the car, and the remaining price after deducting VAT is multiplied by 10%. For example, for a car with a 150,000 invoice, tax = 150,000 ÷ 1.13 × 0.1 ≈ 13,274 yuan. In practice, dividing the invoice price by 11.3 provides a more convenient and accurate estimate. New energy vehicles such as pure electric vehicles often enjoy tax exemption benefits, based on policy adjustments for vehicle type selection.
