China to lower or keep tax unchanged on 87 pct passenger vehicles
2011-12-19 0:00:00Author： adminFont Size：Big Medium Small
BEIJING, Dec. 19 (Xinhua) – Some 87 percent of China's passenger vehicle owners will see their tax burdens lowered or unchanged under the country's new vehicle tax law, reported China Securities Journal, citing an unnamed official with the State Administration of Taxation.
Under China's new vehicle tax law, effective on January 1, 2012, tax on vehicles with a displacement of 2.0 liters or below, which account for about 87 percent of China's total passenger vehicles, would be reduced or stay unchanged.
Tax on vehicles with a displacement between 2.0 liters and 2.5 liters (included), which represent about 10 percent of China's passenger vehicles, will be moderately increased.
Tax on bigger vehicles, which have a displacement higher than 2.5 liters and take up about 3 percent of China's passenger vehicles, will be notably lifted, according to the official.Enditem
Xinhua
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