Shulou(Shulou.com)11/24 Report--

CTOnews.com, September 12 (Xinhua) according to CCTV news, data from the State Administration of Taxation show that from June to August this year, about 3.553 million vehicles across the country enjoyed the vehicle purchase tax reduction policy, with a cumulative reduction of 23.04 billion yuan.

Of these, 1.097 million cars enjoyed a purchase tax cut of 7.1 billion yuan in June, 1.16 million vehicles in July with a tax reduction of 7.58 billion yuan, and 1.296 million vehicles in August with a tax reduction of 8.36 billion yuan.

CTOnews.com learned that according to a joint announcement issued by the Ministry of Finance and the State Administration of Taxation on May 31 this year, the vehicle purchase tax will be halved on passenger cars with engines of 2.0L and less than 300000 yuan (excluding VAT) during the period from June 1, 2022 to December 31, 2022.

In addition, from January to July this year, new energy vehicles were exempted from vehicle purchase tax of 40.68 billion yuan, an increase of 108.5 percent over the same period last year, of which 7.17 billion yuan was exempted from vehicle purchase tax in July, up 119.1 percent from the same period last year, according to the State Administration of Taxation.

According to data from the China Automobile Association, in August, automobile production and sales completed 239.5 million and 2.383 million vehicles respectively, down 2.4% and 1.5% respectively from the previous month, and up 38.3% and 32.1% respectively from the same period last year. Among them, the production and sales of new energy vehicles reached 691,000 and 666000 respectively in August, with monthly production and sales reaching another record high, with production and sales increasing by 1.2 times and 100% respectively compared with the same period last year.

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