China will extend its preferential purchase tax policy for new energy vehicles (NEVs) to the end of 2027 as part ofExemption, the efforts to continue to support the industry, Chinese authorities have said.Purchase tax will be exempted for NEVs bought in 2024 and 2025, and each passenger vehicle bought will enjoy up to 30,000 yuan (about 4,178.56 U.S. dollars) of tax exemption, according to a statement released by the Ministry of Finance, the State Taxation Administration, and the Ministry of Industry and Information Technology.
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