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

According to news from CTOnews.com on September 26, the Ministry of Finance, the State Administration of Taxation and the Ministry of Industry and Information Technology have now issued an announcement on the extension of the vehicle purchase tax exemption policy for new energy vehicles. New energy vehicles purchased during the period from January 1, 2023 to December 31, 2023 shall be exempted from vehicle purchase tax.

The original text is as follows:

Notice on extending the policy of exemption from vehicle purchase tax for new energy vehicles

Announcement No. 27 of 2022, Ministry of Industry and Information Technology, General Administration of Taxation, Ministry of Finance

In order to support the development of the new energy vehicle industry and promote automobile consumption, the relevant matters relating to the continuation of the vehicle purchase tax exemption policy for new energy vehicles are announced as follows:

New energy vehicles purchased during the period from January 1, 2023 to December 31, 2023 shall be exempted from vehicle purchase tax.

2. New energy vehicles exempted from vehicle purchase tax shall be managed through the catalogue of New Energy vehicles exempted from vehicle purchase tax issued by the Ministry of Industry and Information Technology and the State Administration of Taxation (hereinafter referred to as the catalogue). Pure electric vehicles, plug-in hybrid (including incremental) vehicles and fuel cell vehicles that have been listed in the catalogue since the date of publication of the catalogue belong to new energy vehicles that meet the tax-free conditions.

3. The date of purchase shall be determined in accordance with the date of issuance of valid certificates such as the unified invoice for motor vehicle sales or the special payment certificate for customs duties.

IV. New energy vehicles listed in the catalogue before December 31, 2022 may continue to apply the policy of exemption from vehicle purchase tax in accordance with this announcement. Other matters concerning the exemption of new energy vehicles from vehicle purchase tax In accordance with the announcement of the Ministry of Industry and Information Technology of the General Administration of Taxation of the Ministry of Finance on the relevant policies of exemption from vehicle purchase tax for new energy vehicles (announcement No. 21 of 2020 of the Ministry of Industry and Information Technology of the Ministry of Taxation of the Ministry of Finance), The relevant provisions are implemented in documents such as the announcement of the General Administration of Taxation of the Ministry of Industry and Information Technology on adjusting the technical requirements for new energy vehicle products exempted from vehicle purchase tax (announcement No. 13 of 2021) of the State Administration of Taxation of the Ministry of Industry and Information Technology.

It is hereby announced.

Ministry of Finance, Ministry of Taxation, Ministry of Industry and Information Technology

September 18, 2022

The announcement shows that new energy vehicles exempted from vehicle purchase tax are managed through the catalogue of new energy vehicles exempted from vehicle purchase tax issued by the Ministry of Industry and Information Technology and the State Administration of Taxation. Pure electric vehicles, plug-in hybrid (including incremental) vehicles and fuel cell vehicles that have been listed in the catalogue since the date of publication of the catalogue belong to new energy vehicles that meet the tax-free conditions.

CTOnews.com has reported that the executive meeting of the State Council decided to extend the vehicle purchase tax exemption policy for new energy vehicles until the end of 2023. This is the third time that the policy has been extended since China first implemented the policy of exemption from tax on new energy vehicles in 2014.

Since the implementation of the new energy vehicle tax exemption policy, the policy effect has continued to appear, effectively stimulating the consumption potential of new energy vehicles. 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.

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