Car Tax Proposals Made Law
Source: Xinhua |
February 26, 2011, Saturday
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Print Edition
Print Edition
CHINA'S top legislature yesterday voted to adopt a new law for vehicle and vessel taxation which aims to encourage the use of smaller engines to reduce pollution and oil dependence. The law will come into effect on January 1, 2012.
Cars will be taxed according to engine size.
The annual taxes on vehicles and vessels will range from 60 yuan (US$9.12) to 5,400 yuan, according to engine size. Tax now ranges from 360 yuan to 660 yuan.
In China, 87 percent of cars on the road at present have engines of 2.0 liters or below.
Cars will be taxed according to engine size.
The annual taxes on vehicles and vessels will range from 60 yuan (US$9.12) to 5,400 yuan, according to engine size. Tax now ranges from 360 yuan to 660 yuan.
In China, 87 percent of cars on the road at present have engines of 2.0 liters or below.
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