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
