How to Calculate Taxes for a New Car?
1 Answers
New car purchase tax is calculated using the formula: Purchase Tax = Taxable Price × Tax Rate. Here are some details about vehicle purchase tax: 1. Implementation Date: The current basic regulations of the Vehicle Purchase Tax Law were implemented on January 1, 2001, under the "Interim Regulations of the People's Republic of China on Vehicle Purchase Tax." 2. Introduction: The taxpayers of vehicle purchase tax are units and individuals who purchase (including buying, importing, self-producing, receiving as gifts, winning as prizes, or obtaining through other means and using personally) taxable vehicles. The tax scope includes cars, motorcycles, electric vehicles, trailers, and agricultural transport vehicles, with a tax rate of 10%.