How to Calculate the Vehicle Purchase Tax?
1 Answers
Taxable Amount = Taxable Price × Tax Rate. If the consumer purchases a domestic private vehicle, the taxable price is the sum of the customs duty-paid price, customs duty, and consumption tax. Since the purchase price on the special invoice for motor vehicle sales includes value-added tax, the taxable price for vehicle purchase tax = invoice price ÷ 1.17. Then, a 10% tax rate is applied to calculate the vehicle purchase tax.