Overview of 12 rules coming into effect from July 1

Updated: Jul 1, 2019 chinadaily.com.cn Print

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Cars await sale at a dealership in Shenyang, Liaoning province. [Photo provided to China Daily]

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.

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