The Chinese Ministry of Finance April 22 posted online an announcement on tax exemptions for new energy vehicle purchases. The announcement includes: 1) a tax exemption for pure electric, plug-in hybrid, and fuel cell vehicles from Jan. 1, 2021, to Dec. 31, 2022; 2) invoice procedures; and 3) documentation conditions and requirements. The ministry also clarified that the regime included in the catalog before Dec. 31 will continue to apply. The announcement will take effect Jan. 1, 2021. [China, Ministry of Finance, 04/22/20]
Reference:
View Announcement No. 21/2020. View Index.
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