With the transition to high quality, the supervision of new energy vehicles is becoming increasingly stringent. On March 2, the ministries and commissions of the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Administration of Taxation issued a joint announcement to strengthen the dynamic management of the “Catalogue of New Energy Vehicle Models Exempted from Vehicle Purchase Taxesâ€, which was included in the Catalogue on and after January 1, 2017. Vehicles with no production or imports within the next 12 months will be withdrawn from the Catalogue and will no longer be eligible for exemption from vehicle purchase tax.
The so-called “New Energy Vehicle Model Catalogue for Exemption from Vehicle Purchase Taxes†is linked to the country's subsidy system for new energy vehicles. In order to support the development of new energy vehicles, since September 1, 2014, China has been exempted from buying vehicle purchase tax on new energy vehicles purchased and implemented directory management. 12 months without output? The sentence in the announcement is not "unfounded". As early as in 2016, there were media reports that some auto companies had "recovered their spirits" through new energy vehicles. They claimed that the trial-produced electric vehicles had not seen mass production for five years.
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