What is the percentage of purchase tax for motorcycles?
2 Answers
The purchase tax rate for motorcycles is ten percent. Purchase tax calculation formula: Motorcycles with an engine displacement not exceeding 150 milliliters are exempt from purchase tax. For motorcycles with an engine displacement exceeding 150 milliliters, the taxable amount is calculated by multiplying the taxable vehicle's price by the tax rate (for example, if a consumer purchases a motorcycle priced at 10,000, after deducting the value-added tax portion, the tax is calculated at ten percent. The calculation formula is 10,000 ÷ 1.17 × 0.1 = 999.9). Vehicle Purchase Tax Law provisions: The "People's Republic of China Vehicle Purchase Tax Law" stipulates in Article 1 that units and individuals who purchase automobiles, rail vehicles, automobile trailers, and motorcycles with an engine displacement exceeding 150 milliliters (hereinafter collectively referred to as taxable vehicles) within the territory of the People's Republic of China are the taxpayers of the vehicle purchase tax and shall pay the vehicle purchase tax in accordance with this law.
Last year, I bought a motorcycle and was only reminded to pay the purchase tax when making the payment at the dealership. The tax rate is generally 10%, calculated based on the invoice price minus the value-added tax. For example, the original price of my bike was 20,000 yuan, with a 13% VAT, so the purchase tax was approximately 1,740 yuan. This expense added nearly 2,000 yuan to my total cost, so it's essential to budget in advance to avoid last-minute hassles when picking up the vehicle. Buying a vehicle also involves considering insurance and registration fees, making the overall cost quite substantial. I recommend doing thorough research before purchasing, as some places may have promotional activities that can save you some money. In short, while the tax rate is fixed, proper planning can help alleviate the financial burden.
