In recent years, the country has vigorously supported the development of new energy vehicles, reducing and exempting purchase taxes for consumers who purchase new energy vehicles to stimulate demand. This has also achieved significant results, and it is evident that the development of new energy in China has been on the right track and flourishing.
In June of this year, it was confirmed that the purchase tax exemption policy for new energy vehicles, which was originally due to expire at the end of this year, will be extended until the end of 2027. However, the threshold for the reduction amount will gradually be raised, and the new policy will come at the end of the year.
On December 11th, the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Administration of Taxation jointly issued a notice on adjusting the technical requirements for new energy vehicle products with reduced or exempted vehicle purchase tax (referred to as the notice), clarifying the technical requirements and transitional period policies applicable to the policy of reducing or exempting vehicle purchase tax for new energy vehicles after 2024, and updating relevant standards and enterprise requirements.
Let's mainly take a look at the impact on consumers. The Announcement has adjusted the technical requirements for four types of new energy vehicle products: new energy passenger vehicles, new energy buses, new energy trucks and specialized vehicles, and fuel cell vehicles.READ MORE!!
Post time: Dec-14-2023