- The Chinese government has extended the current low value-added tax rate on used-vehicle sales for another four years.
- This decision aims to support the used-vehicle market in China.
- The low tax rate is expected to encourage more people to buy used vehicles.
- The tax cut is part of the government’s efforts to boost consumption and stimulate economic growth.
- The extension of the tax cut is seen as a positive move for the automotive industry in China.
Source: autonews.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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