With the arrival of 2018, China introduced several new policies aimed at promoting the development and adoption of new energy vehicles. These measures are designed to support innovation in the automotive industry and encourage a shift towards greener transportation options. Let’s take a closer look at one of the key policies: the exemption from vehicle purchase tax for new energy vehicles.
**New Energy Vehicle Tax Exemption**
On December 19, 2017, the Ministry of Finance and the Ministry of Industry and Information Technology issued an announcement regarding the tax exemption for new energy vehicles. This policy, outlined in Announcement No. 172 of 2017, was approved by the State Council and aims to implement the spirit of the 19th Party Congress, further boosting the growth of the new energy vehicle sector.
**Key Details of the Policy:**
- **Tax Exemption Period:** From January 1, 2018, to December 31, 2020, the purchase of new energy vehicles will be exempt from the vehicle purchase tax.
- **Catalogue System:** Only vehicles listed in the "Catalogue of New Energy Vehicles Exempt from Vehicle Purchase Tax" will qualify for the exemption. Vehicles included before December 31, 2017, remain valid under the same policy.
- **Eligibility Criteria:** New energy vehicles added to the catalogue after January 1, 2018, must meet specific requirements:
- They must be pure electric, plug-in hybrid (including extended-range), or fuel cell vehicles licensed for sale in China.
- They should comply with technical standards for new energy automotive products.
- They must pass special inspection standards for new energy vehicles.
- Manufacturers or importers must meet quality assurance, product consistency, after-sales service, safety monitoring, and battery recycling requirements.
The Ministry of Finance, the State Administration of Taxation, the Ministry of Industry and Information Technology, and the Ministry of Science and Technology will regularly update the criteria as technology and regulations evolve.
**Application Process:**
- Companies must submit an application report (Annex 4) to the Ministry of Industry and Information Technology.
- The ministry, along with the State Administration of Taxation, will review applications and select eligible models.
- Once approved, these models are added to the official list, and their tax-exempt status is marked on the vehicle certificate.
**Enforcement and Penalties:**
- Any company that provides false information or fails to meet performance standards may lose its tax exemption eligibility.
- In cases where a vehicle poses a safety risk or causes an accident, the company may face penalties, including suspension or cancellation of the exemption.
- Officials involved in the review process who abuse their authority or act improperly will be held accountable according to relevant laws.
**Latest Catalogue Update:**
On December 19, 2017, the fifteenth batch of the “New Energy Vehicle Model Catalogue Exempted from Vehicle Purchase Tax†was announced. It includes 25 models of pure electric and plug-in hybrid passenger vehicles, a slight decrease compared to the previous batch. Detailed information about the models can be found in the images below, which provide a visual overview of the updated list.
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