Related News
China's top legislature reviews clean-energy vehicle tax bill
Source: Xinhua |
October 25, 2010, Monday
|
Online Edition
Online Edition
CHINA'S top legislature today began reviewing for the first time a draft law on vehicle and vessel taxation, as a bimonthly legislative session began.
The draft law sets out provisions for reducing taxes on energy-saving and clean energy-powered vehicles while imposing more taxes on cars with big engines.
Currently, the tax on passenger vehicles in China ranges from 360 yuan (US$54) to 660 yuan per unit.
Taxes on vehicles with engines smaller than 1.6 liters - which account for 58 percent of Chinese passenger cars, defined as autos with a seating capacity of less than nine passengers - will be reduced slightly or be kept unchanged, Chinese Finance Minister Xie Xuren said in his report to today's meeting.
Taxes on cars with engines bigger than 1.6 liters but smaller than 2.5 liters will see a "moderate" increase in taxes while a "relatively large" increase will be imposed on cars with engines larger than 2.5 liters, he said.
Taxes on vessels will remain unchanged while taxes on motorcycles, three-wheel motor vehicles and low-speed trucks mainly used in rural areas will be reduced or remain unchanged, according to the draft law.
The draft law also stipulates that owners of energy-intensive and highly-polluting cars and vessels will have to pay more tax.
Details regarding the draft law's tax standards were not made public at today's meeting.
The draft law, passed at an executive meeting of the State Council, China's cabinet, on October 12, is set to replace the current tax law on vehicles and vessels which took effect in 2007.
The 17th Session of the Standing Committee of the 11th National People's Congress will run until Thursday.
China has 199 million motor vehicles on its roads, including more than 85 million automobiles. China defines motor vehicles as motorcycles, tractors, trucks and cars.
The draft law sets out provisions for reducing taxes on energy-saving and clean energy-powered vehicles while imposing more taxes on cars with big engines.
Currently, the tax on passenger vehicles in China ranges from 360 yuan (US$54) to 660 yuan per unit.
Taxes on vehicles with engines smaller than 1.6 liters - which account for 58 percent of Chinese passenger cars, defined as autos with a seating capacity of less than nine passengers - will be reduced slightly or be kept unchanged, Chinese Finance Minister Xie Xuren said in his report to today's meeting.
Taxes on cars with engines bigger than 1.6 liters but smaller than 2.5 liters will see a "moderate" increase in taxes while a "relatively large" increase will be imposed on cars with engines larger than 2.5 liters, he said.
Taxes on vessels will remain unchanged while taxes on motorcycles, three-wheel motor vehicles and low-speed trucks mainly used in rural areas will be reduced or remain unchanged, according to the draft law.
The draft law also stipulates that owners of energy-intensive and highly-polluting cars and vessels will have to pay more tax.
Details regarding the draft law's tax standards were not made public at today's meeting.
The draft law, passed at an executive meeting of the State Council, China's cabinet, on October 12, is set to replace the current tax law on vehicles and vessels which took effect in 2007.
The 17th Session of the Standing Committee of the 11th National People's Congress will run until Thursday.
China has 199 million motor vehicles on its roads, including more than 85 million automobiles. China defines motor vehicles as motorcycles, tractors, trucks and cars.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
