How to Calculate the 2.0 Vehicle Purchase Tax in 2021?

[DanteLee]

2021 Vehicle Purchase Tax Calculation Formula: Tax Payable = Taxable Vehicle's Taxable Price × Tax Rate. Details are as follows: 1. Purchase Tax: Purchase tax is a tax levied when buying a new car. According to the latest laws and regulations, except for new energy vehicles, plug-in hybrid vehicles, and domestic cars purchased by overseas students, which may qualify for purchase tax reductions or exemptions, all other car purchases are subject to purchase tax. It is worth noting that if you buy a second-hand car model that was exempt from purchase tax, you will need to pay the purchase tax at a certain rate. 2. Value-Added Tax (VAT): The vehicle purchase tax is levied at 10% of the car's selling price (excluding tax), and the VAT rate is 13%. The 'taxable price' of the taxable vehicle is the total price actually paid by the taxpayer to the seller (i.e., the 'price excluding tax' on the bottom line of the invoice), which does not include VAT.