State Administration of Taxation: Exemption of 49.17 billion yuan from new energy vehicle purchase tax in the first half of the year China | New Energy | Vehicles

Release time:Apr 14, 2024 11:32 AM

At today's press conference, the relevant person in charge of the State Administration of Taxation stated that in the first half of this year, China was exempted from the purchase tax of new energy vehicles, exceeding 49 billion yuan. The combination of multiple tax policies has been vigorously implemented, and significant discounts have continued to show effectiveness, providing strong support for the high-quality development of China's new energy vehicle industry.

According to the unified invoice data for motor vehicle sales, in the first half of this year, China sold 3.111 million new energy vehicles, a year-on-year increase of 38.3%. Among all new car sales, new energy vehicles accounted for 23.5% in 2022, and their proportion increased to 27.4% in the first half of this year. With the continuous increase in the number of new energy vehicles in China's market, 49.17 billion yuan of new energy vehicle purchase tax was exempted in the first half of the year, a year-on-year increase of 44.1%.

Shen Xinguo, Director of the Tax Service Department of the State Administration of Taxation: Through continuous optimization and improvement, a directory style management of preferential policies for new energy vehicle purchase tax and vehicle and vessel tax has been achieved. The directory of vehicles that meet the preferential conditions is embedded in the tax collection and management system, and the information system automatically judges and identifies them, greatly facilitating taxpayers to enjoy policy dividends.

In order to consolidate and develop the advantages of China's new energy vehicle industry, the Ministry of Finance, the State Administration of Taxation, and the Ministry of Industry and Information Technology issued a notice in June this year, clarifying that the policy of reducing and exempting the purchase tax on new energy vehicles will be extended for another four years, that is, until December 31, 2027.

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