China to halve purchase tax for some passenger cars from Jun 1

On May 31, the Ministry of Finance and the State Taxation Administration issued an announcement on reducing the purchase tax on some passenger cars.Asian Metal Copyright In order to promote automobile consumption and support the development of the automobile industry, the vehicle purchase tax will be halved for passenger cars with a displacement of 2 liters and below whose purchase date is from June 1, 2022 to December 31, 2022 and whose single vehicle price excluding value-added tax does not exceed 300,000 yuan 44,970 US dollars.Asian Metal Copyright In order to promote automobile consumption and support the development of the automobile industry, the vehicle purchase tax will be halved for passenger cars with a displacement of 2 liters and below whose purchase date is from June 1, 2022 to December 31, 2022 and whose single vehicle price (excluding value-added tax) does not exceed 300,000 yuan (44,970 US dollars).
.Asian Metal CopyrightOn May 31, the Ministry of Finance and the State Taxation Administration issued an announcement on reducing the purchase tax on some passenger carsAsian Metal Copyright