Home News New energy vehicle purchase tax exemption extended to the end of next year

New energy vehicle purchase tax exemption extended to the end of next year

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New energy vehicle purchase tax exemption extended to the end of next year

40.68 billion yuan in vehicle purchase tax exemption from January to July this year

According to the Xinhua News Agency reporter learned from the Ministry of Finance on the 26th, in order to support the development of the new energy vehicle industry, the Ministry of Finance, the State Administration of Taxation, and the Ministry of Industry and Information Technology jointly issued an announcement a few days ago. The vehicle purchase tax policy will continue to be implemented until the end of next year.

The announcement clarifies that new energy vehicles with a purchase date between January 1, 2023 and December 31, 2023 will be exempt from vehicle purchase tax. The date of purchase shall be determined according to the date of issuance of valid vouchers such as the uniform invoice for motor vehicle sales or the special payment letter for customs duties.

Since the implementation of the vehicle purchase tax exemption policy for new energy vehicles, the consumption potential of new energy vehicles has been effectively stimulated. According to data released by the State Administration of Taxation, from January to July this year, new energy vehicles were exempted from vehicle purchase tax of 40.68 billion yuan, a year-on-year increase of 108.5%, of which 7.17 billion yuan was exempted from vehicle purchase tax in July.

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