On May 18, the Ministry of Finance, the State Administration of Taxation and the Ministry of Industry and Information Technology jointly released the Circular on Preferential Policies of the Vehicle and Vessel Tax for the New Energy Vehicle for the Energy Saving (the Circular). In order to enhance the energy saving and the use of new energy, the Circular defines that the energy-saving vehicle and vessels will enjoy the halved vehicle and vessel tax and the new energy vehicle will be exempted from the vehicle and vessel tax.

 

The Circular points out that the new energy vehicles exempted from the vehicle and vessel tax refers to the electric commercial vehicles, plug-in (including extended range electric vehicles) hybrid and fuel-cell commercial vehicles. The electric passenger vehicles and fuel-cell passenger vehicles do not fall in the scope of vehicle and vessel taxation and will be exempted from such tax.

 

In addition, the vehicle and vessel tax will be halved for the energy-saving vehicles and vessels, says the Circular.

 

Source: Excerpts from Nanfang Daily, May 19, 2015