What taxes are required for used cars?

[MacEmersyn]

Used car dealers need to pay value-added tax (VAT). Here is extended information: 1. Used car VAT: Previously known as the used car transaction tax, the state stopped collecting the used car transaction tax in 2015 and replaced it with VAT. The biggest difference between VAT and the transaction tax is that VAT has a lower fee standard, which is a policy benefit to promote the development of the used car industry. 2. Used car VAT fee standard: The VAT fee standards for used cars across the country are largely similar, all based on the declared price and transaction price to determine the amount of VAT to be paid. If the transaction price is higher than the declared price, 2% of the transaction price is charged; if the transaction price is lower than the declared price, 2% of the declared price is charged. (The specific policy description is 4% of the price reduced by half, which is equivalent to 2%. The used car transaction tax was charged at 2.5%.)