Is the purchase tax halved for 1.4T displacement cars?
1 Answers
1.4T displacement cars enjoy a 25% reduction in purchase tax. According to the latest policy, the vehicle purchase tax for cars below 1.6T is calculated at 7.5%. From October 1, 2015, to December 31, 2016, there was a preferential policy of halving the vehicle purchase tax for passenger cars with a displacement of 1.6 liters or below. Below is a related introduction to the purchase tax: 1. Concept: The purchase tax is a tax levied by tax authorities on the acquisition of specified properties and assets within the scope of the purchase tax system, such as the vehicle purchase tax. The vehicle purchase tax is a tax levied on units and individuals purchasing specified vehicles within China, evolving from the vehicle purchase surcharge. 2. Calculation method: The calculation method for the purchase tax is: Vehicle purchase tax payable = taxable price * 10% (7.5% for passenger cars with a displacement of 1.6 liters or below).