What is the purchase tax for a car priced at 120,000 yuan?

[MacDawson]

Purchase tax calculation formula: Purchase surcharge = Naked car price ÷ (1 + 17%) × 10%. Vehicle purchase tax is a tax levied on units and individuals who purchase specified vehicles within the territory. It evolved from the vehicle purchase surcharge. From January 20, 2009, to December 31, 2009, the vehicle purchase tax for passenger vehicles with a displacement of 1.6 liters or below was reduced to 5%. Introduction to purchase tax: Purchase tax is a tax levied by tax authorities on the behavior and property of related financial goods within the scope of the purchase tax system, such as vehicle purchase tax. Vehicle purchase tax is a tax levied on units and individuals who purchase specified vehicles within China. It evolved from the vehicle purchase surcharge. Purchase tax calculation method: Vehicle purchase tax is calculated using the ad valorem rate method to determine the taxable amount. The calculation formula is: Taxable amount = Taxable price × Tax rate. If the consumer buys a domestic private car, the taxable price is the total price and extra fees paid to the dealer, excluding the value-added tax (tax rate 17%).