Blockbuster! The purchase tax exemption for new energy vehicles will be extended to the end of 2023

According to CCTV news, on August 18, The State Council executive meeting held, the meeting decided that the new energy vehicles, the car purchase tax exemption policy will be extended to the end of next year, continue to be exempted from vehicle and ship tax and consumption tax, right of way, license plate and other support. We will establish a coordination mechanism for the development of the new energy automobile industry, and promote the survival of the fittest and the development of supporting industries by market-based methods. We will vigorously build charging piles, supported by policy-based development financial instruments.

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The current policy is the Announcement on the Relevant Policies for the Exemption of Vehicle Purchase Tax for New Energy Vehicles issued in April 2020. From January 1, 2021 to December 31, 2022, new energy vehicles purchased will be exempted from vehicle purchase tax. New energy vehicles exempt from vehicle purchase tax refer to pure electric vehicles, plug-in hybrid electric vehicles (including extended-range vehicles) and fuel cell vehicles. The current purchase tax exemption for new energy vehicles, which was originally scheduled to end at the end of this year, will be extended for one year. The policy support will inject vitality into the new energy market.

At present, the tax rate of vehicle purchase tax in our country is 10%, and the formula for calculating the tax rate is invoice price of car purchase/(1+ value-added tax rate 13%) *10%. Taking a BYD Seal four-wheel-drive performance version, which was sold for 286,800 Yuan not long ago, as an example, the vehicle purchase tax can be reduced or exempted to about 25,300 yuan under this policy.


The all-wheel-drive performance version of the BYD SEAL, priced at 286,800 yuan, can be exempted from vehicle purchase tax by about 25,300 yuan under the policy.

In addition, the conference also mentioned the construction of charging piles. Charging pile is an important supporting infrastructure for new energy vehicles. With the significant increase in the penetration rate of new energy vehicles, the problem of insufficient supporting facilities has become increasingly apparent. Data show that by the end of March 2022, the cumulative number of charging infrastructure in China is 3.109,000 units, an increase of 73.9% year on year, and the ratio of vehicle piles is about 3.3:1. The gap is still large. The construction of charging piles needs to be accelerated to solve the problem of daily energy replacement for new energy consumers, which will further expand the consumption and market growth of new energy vehicles

Post time: Aug-25-2022


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