Is There a Purchase Tax for Buying New Energy Vehicles?

[JosiahRose]

Purchasing new energy vehicles is exempt from purchase tax. According to the announcement by the Ministry of Finance, from January 1, 2021, to December 31, 2022, the purchase of new energy vehicles is exempt from vehicle purchase tax. The new energy vehicles exempt from purchase tax include pure electric vehicles, plug-in hybrid (including range-extended) vehicles, and fuel cell vehicles. The following is an introduction to vehicle purchase tax: Vehicle purchase tax refers to the tax levied when purchasing a vehicle, with the tax amount being 10% of the vehicle's selling price (excluding tax). The taxpayers of vehicle purchase tax are units and individuals who purchase (including buying, importing, self-producing, receiving as gifts, winning as prizes, or obtaining through other means for personal use) taxable vehicles, 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.