Last Friday, the Chinese Ministry of Finance announced that it will extend a sales tax break on environmentally-friendly cars instead of scrapping it, a move that will provide some much-needed support to the country’s weakening auto sector. The sales tax break which was expected to be scrapped will not be available till the end of 2020, allowing buyers of battery-powered and plug-in hybrid cars to be exempt from a 10% sales tax.
Source: chinaknowledge.com
Latest Posts in "China"
- China Releases Draft VAT Implementation Regulations for Public Consultation Ahead of 2026 Law Launch
- Shell Companies Exploit Agricultural Tax Benefits, Issue Fraudulent Invoices Worth 30 Billion Yuan
- Chengdu Tax Bureau Investigates Sichuan Logistics Firm for VAT Fraud and Tax Evasion
- Pingtan Tax Bureau Cracks Down on Agricultural Tax Fraud and Fake VAT Invoice Scheme
- China’s New VAT Refund Policy for Taxpayers Begins September 2025
