How to Calculate the Vehicle Purchase Surcharge?
1 Answers
Calculation method: For new vehicles with an engine displacement above 1.6, divide the vehicle price by 1.17 and then multiply by 10%. For new vehicles with an engine displacement below 1.6, divide the vehicle price by 1.17 and then multiply by 5%. Here are the relevant details: 1. New vehicle calculation: Since the price of a new vehicle already includes tax when purchased, there is no need to pay additional new vehicle tax. This means removing the 17% value-added tax and then multiplying the vehicle price by the national policy on new vehicle surcharges. 2. Vehicle purchase tax: The vehicle purchase tax is a tax levied on units and individuals who purchase specified vehicles within the country. It evolved from the vehicle purchase surcharge.