What is the vehicle purchase tax?
1 Answers
Currently, excluding the 17% value-added tax, the vehicle purchase tax is 10%. Below is a detailed introduction about the vehicle purchase tax: 1. Vehicle purchase tax: The purchase tax is a tax levied by tax authorities on the purchase of related properties and assets within the scope of the purchase tax system. The vehicle purchase tax is a tax levied on units and individuals who purchase specified vehicles within China, and it evolved from the vehicle purchase surcharge. 2. Legal basis: According to the relevant provisions of the 'Interim Regulations of the People's Republic of China on Vehicle Purchase Tax,' starting from January 1, 2001, vehicle purchase tax is levied on units and individuals purchasing taxable vehicles. The vehicle purchase tax is levied on an ad valorem basis at a rate of 10%.