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China Clarifies Future of New-Energy Vehicle Tax Exemption Scheme

Further to the Vehicle Purchase Tax Law, the Ministry of Finance and the State Administration of Taxation have jointly issued a Circular on the Continuing Implementation of the Vehicle Purchase Tax Preferential Policy, which outlines the future application of the legislation.

In specific terms, the Circular makes it clear that any new-energy vehicles purchased between 1 January 2018 and 31 December 2020 will be exempt from vehicle purchase tax and that the Circular on Exemption of Vehicle Purchase Tax on New-Energy Vehicles (Circular No. 172 [2017]), as previously-issued by the Ministry of Finance, State Administration of Taxation, Ministry of Industry and Information Technology and Ministry of Science and Technology, remains in force.

Furthermore, new-energy vehicles listed in the Catalogue of New-Energy Vehicle Models Exempt from Vehicle Purchase Tax prior to 31 December 2017 will continue to benefit from this preferential policy, while those listed post-1 January 2018 must meet a number of additional requirements in order to qualify for any tax exemption.

Source: Ministry of Finance

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