According to China's Ministry of Finance announced the "Notice on the Reduction of Vehicle Purchase Tax for Passenger Cars of 1.6 Liters and Below Displacement", it is clearly stipulated in the "Notice on the Reduction of Vehicle Purchase Tax for Passenger Cars of 1.6 Liters and Below Displacement" that, starting from January 1, 2018, vehicle purchase tax is resumed to be levied according to the statutory rate of 10%, which means that there is no longer any purchase tax preference for the purchase of small-emission cars. After the end of the purchase tax incentives for small-displacement fuel vehicles, the purchase tax incentives for new energy vehicles have become the focus. Now in front of consumers is the new energy vehicle purchase tax exemption preferential and preferential policies continue to extend for three years to December 31, 2020, the acquisition of new energy vehicles in line with the provisions of the continued exemption from the purchase tax.

The Chinese people*** and the State Vehicle Acquisition Tax Law Article 4 The vehicle acquisition tax rate of ten percent. Article 6 of the Vehicle Acquisition Tax Law of the People's Republic of China (PRC) The taxable price of a taxable vehicle shall be determined in accordance with the following provisions: (1) The taxable price of a taxpayer's purchase of a taxable vehicle for his own use shall be the full price actually paid by the taxpayer to the seller, excluding value-added tax; (2) The taxable price of a taxpayer's importation of a taxable vehicle for his own use shall be the customs duty-paid price plus customs duty and excise tax; (3) The taxpayer's own production (c) The taxable price of a taxable vehicle produced by a taxpayer for self-use shall be determined in accordance with the sales price of similar taxable vehicles produced by the taxpayer, excluding VAT; (d) The taxable price of a taxable vehicle acquired by a taxpayer by way of a gift, award or otherwise for self-use shall be determined in accordance with the price stated on the relevant certificates at the time of acquisition of the taxable vehicle, excluding VAT.