What is the percentage of tax on cars?
1 Answers
Car tax is calculated based on the total amount of fees listed on the "Uniform Invoice for Motor Vehicle Sales" divided by (1+17%) as the tax basis, multiplied by 10% to determine the vehicle purchase tax payable. Several types of taxes and fees need to be paid when purchasing a car: 1. Vehicle Purchase Tax: The purchase tax is a tax levied by tax authorities on the behavior and property related to the purchase of specified items 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 who purchase specified vehicles within China, evolving from the vehicle purchase surcharge. 2. Vehicle and Vessel Tax: The vehicle and vessel tax is a property tax levied on vehicles and vessels that are required to be registered with public security, transportation, agriculture, fisheries, military, and other administrative departments in China, calculated based on their type, prescribed tax basis, and annual tax standards. 3. Consumption Tax: This is a general term for various taxes levied on the turnover of consumer goods. It is a tax imposed by the government on consumer goods, which can be collected from wholesalers or retailers. The consumption tax is a typical indirect tax. For luxury cars exceeding 1.3 million yuan, an additional 10% consumption tax is required.
