The Chinese government wants to continue the purchase tax exemption for New Energy Vehicles (BEVs, FCEVs and PHEVs) in 2023. The purchase tax exemption for NEVs in China has been in place since 2014, and with its continuation the government wants to further support the growth of the industry.
The purchase tax exemption has been extended several times over the years, most recently until the end of 2022. Compared to a similarly priced combustion model, NEV customers save about 10,000 yuan or the equivalent of 1,450 euros. The extension was decided at a meeting of high-ranking government officials.
Source Electrive.com
Latest Posts in "China"
- France Cracks Down on Chinese E-Commerce Giants with Fines and Regulations
- China Releases Draft VAT Implementation Regulations for 2026 Law
- China Imposes 2000 Line Item Limit on Fully Digitalized Electronic Invoices, Affecting SAP Systems
- USTR Evaluates Extending Section 301 Tariff Exclusions on Chinese Imports Beyond November 2025
- Notice on Formulating the 2025 List of Integrated Circuit Enterprises for VAT Super-deduction Policy