Overview of 12 rules coming into effect from July 1
chinadaily.com.cn |
Updated: 2019-07-01 06:40
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A new vehicle purchase tax regulation will come into effect from July 1. The new regulation will adjust taxable value to the amount consumers actually paid to sellers, instead of manufacturer's suggested retail price. Meanwhile, it set the tax rate at 10 percent, while clarifying those which need no taxes, including urban rail transit vehicles, excavators, cranes and electric motorcycles.
