How Much Tax Do You Need to Pay for Imported Cars?

[VonKiara]

Taxes for imported cars include: customs duty, with rates ranging from 25% to 50%; VAT: 17%; and consumption tax, with rates ranging from 10% to 45%. Below is an introduction to the taxes for buying imported cars: 1. Customs Duty: All imported cars are subject to customs duty. However, the high price of imported cars is not solely due to high customs duties; the current customs duty rate for imported cars is 25%. 2. VAT: VAT is also known as the new vehicle purchase tax, which all car buyers need to pay. Currently, the State Council has introduced a preferential policy that halves the purchase tax for small-displacement vehicles. Car owners purchasing vehicles with an engine displacement of 1.6 liters or below can enjoy this preferential policy. 3. Consumption Tax: The consumption tax varies from 1% to 40% depending on the engine displacement. Car owners should carefully check the engine displacement of the imported car during the purchase process. If the displacement is too high, the car owner will need to pay a high consumption tax.