According to the news, on the morning of July 19th, the Ministry of Finance held a press conference to introduce the specific content of the continuation and optimization of the tax reduction and exemption policy for new energy vehicle purchases. It was clarified that the tax reduction and exemption policy for NEVs purchases will be extended until the end of 2027.
The details are as follows: NEVs purchased between January 1, 2024 and December 31, 2025 are exempt from vehicle purchase tax, with the exemption for each vehicle not exceeding Yuan 30,000; Half of the vehicle purchase tax will be levied on new energy vehicles purchased between January 1, 2026 and December 31, 2027, with a tax reduction of no more than Yuan 15,000 per vehicle.
Edited by Cassie Li, lixiangying@mysteel.com
