How to Calculate Vehicle Purchase Tax?
2 Answers
Vehicle purchase tax calculation formula: Purchase tax = Total vehicle price ÷ (1 + 13%) × 10%. Additional information: 1. Vehicle purchase tax: Vehicle purchase tax is a tax levied on units and individuals purchasing specified vehicles within China, which evolved from the vehicle purchase surcharge. The purchase tax is a tax collected by tax authorities on the acquisition of relevant properties and assets within the scope of the purchase tax system. 2. Calculation basis: The tax basis for vehicle purchase tax is calculated using the ad valorem rate method with tax-exclusive pricing, making the taxable vehicle's price (i.e., the tax calculation price) the basis for vehicle purchase tax. However, due to different sources of taxable vehicles, the composition of the tax calculation price varies, resulting in different structures for the vehicle purchase tax basis.
The calculation of vehicle purchase tax is actually quite simple. I remember when I bought a car last time, the salesperson said it's generally the invoice price of the vehicle divided by 1.13 and then multiplied by 10%. For example, if your car's invoice is 100,000 yuan, dividing it by 1.13 gives you a tax-exclusive price of approximately 8,849 yuan, and multiplying that by 10% results in a tax of about 884.9 yuan. In practice, dealers usually calculate it for you, but it's best to ensure the invoice is accurate. Don't underreport the price to pay less tax, as it might cause issues when selling the car or during insurance evaluations. I bought a small-displacement gasoline car and happened to benefit from a policy discount, which reduced part of the tax. It's advisable to check the official website or dealers for current new energy vehicle subsidies—you might save some money. When budgeting for a new car, remember to account for this tax. Don't just focus on the car price and forget the tax, or you might find yourself struggling to cover the cost unexpectedly.
