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

CTOnews.com, December 19, according to Xinhua News Agency, the Central Finance Office responded to current economic hot issues in an interview.

Responsible comrades of the Central Finance Office said that in view of some restrictive measures in the areas of housing, automobiles, and service consumption, it is necessary to improve consumption policies and support consumption such as housing improvement, new energy vehicles, old-age services, education, medical care, culture and sports services.

The Central Finance Office pointed out that it is necessary to continue to implement the policy of exemption from vehicle purchase tax and promote the transformation of automobile consumption from purchase management to use management. In addition, the relevant responsible comrades of the Central Finance Office also affirmed the development of China's new energy vehicle industry.

The Ministry of Finance, the State Administration of Taxation and the Ministry of Industry and Information Technology also issued a notice in September this year on the extension of the vehicle purchase tax exemption policy for new energy vehicles.

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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