How to Calculate the Purchase Tax for New Cars in 2021?
3 Answers
2021 new car purchase tax is calculated as: new car price (including tax) ÷ 1.17 (VAT rate of 17%) × 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. The tax amount is 10% of the car's selling price (excluding tax). The taxpayers for vehicle purchase tax are units and individuals who acquire taxable vehicles (including purchase, import, self-production, gift, award, or other means of acquisition 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 relevant provisions of the Ministry of Finance's document [2000] No. 18: The vehicle purchase tax paid by enterprises for acquiring taxable vehicles (including purchase, import, self-production, gift, award, or other means of acquisition for personal use) should be included in the cost of the vehicle as it is part of the related taxes and fees for purchasing fixed assets.
I'm a seasoned driver who just bought a new car last year, and the calculation of the purchase tax is actually quite straightforward. It mainly depends on the tax-inclusive price on the car purchase invoice, which includes a 13% VAT. So, you first divide by 1.13 to get the tax-exclusive price, and then multiply this price by 10% to get the tax amount. For example, a car priced at 300,000 yuan, divided by 1.13, is approximately 265,500 yuan, and the tax would be around 26,550 yuan. This rule applied to all fuel vehicles in 2021, but new energy vehicles like pure electric cars are tax-exempt, which can save a lot. I bought a mid-size SUV for 350,000 yuan at the time, and the tax came out to over 31,000 yuan. When you add the total car price, it's still important to budget in advance, as it makes up a significant portion along with insurance and other miscellaneous fees. When choosing a car model, it's good to compare different brands, as sometimes promotional activities can indirectly reduce the tax burden. After buying the car, I realized that asking professionals at the 4S store earlier would have made things clearer.
As someone who frequently assists friends with car purchases, I have some insights on purchase tax calculation. The formula is invoice price divided by 1.13 multiplied by 10%. Back in 2021, the tax rate for fuel vehicles was fixed at 10%. For example, a car priced at 200,000 yuan has an untaxed price of approximately 177,000 yuan, with a tax of 17,700 yuan. The exemption of purchase tax for new energy vehicles is a significant benefit, directly saving you 10%. When buying a car, be careful not to be misled—all calculations should be based on the invoice details to avoid additional fees. I recommend using a mobile calculator for quick and accurate results. Combining car loans and annual insurance costs can help better plan your overall expenses, and I suggest setting aside funds in advance to avoid overspending.
