What is the threshold for the luxury car tax?
1 Answers
The threshold for the luxury car tax is 1.521 million yuan. Here is relevant information: Introduction: The luxury car tax is an additional consumption tax on luxury vehicles introduced by the state in December 2016, also referred to as a luxury tax. The luxury car tax rate is 10%, and its main purpose is to adjust product structure, guide consumption direction, and promote energy conservation and emission reduction. Calculation method: China imposes a 10% luxury car tax on vehicles priced over 1.3 million yuan (approximately 178,000 euros). This 1.3 million yuan does not include the value-added tax (VAT), which is 117%. The luxury car tax rate is 10%, and the calculation formula is: taxable amount = car price / VAT × tax rate.