China Is Considering to Reduce Tax on Small Vehicles

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In connection with the emergence of trade problems due to the conflict with the United States, Beijing seeks to support the country’s economy.

To this end, the Chinese government plans to carry out tax reforms and reduce the tax rate for vehicle purchases by 50%. The plan according to which the tax rate to be only 5% for cars with an engine capacity of 1.6 litres was sent to the authorities.