What taxes are required when a company sells a used car?

[SanHaven]

When selling a used car and transferring the ownership registration to the buyer, this act falls under the sale of goods as stipulated in the "Provisional Regulations of the People's Republic of China on Value-Added Tax" and is subject to VAT according to current regulations. Additional information: To enhance the certainty and uniformity of the newly introduced VAT reduction policy for used car dealership businesses, the announcement specifies that from May 1, 2020, to December 31, 2023, taxpayers engaged in used car dealership businesses selling their acquired used cars will be subject to a reduced VAT rate of 0.5%, and the sales amount will be calculated using the formula: Sales amount = Tax-inclusive sales amount / (1 + 0.5%).