A BYD new energy car. (File photo/China News Service)
(ECNS) - A statement posted on the website of the Ministry of Industry and Information Technology (MIIT) said 72 types of new energy vehicles have been withdrawn from the catalogue that lists models exempt from vehicle purchase tax.
The new energy vehicles tax exemption program in China is administered by the MIIT and State Administration of Taxation through a catalogue updated according to applications from carmakers as well as compliance inspections by authorities.
Since the 16th edition of the catalogue was released in February 2018, no production or sales records were registered on 72 models over the past 12 months, so they were withdrawn from the preferential tax policy.
Carmakers involved in the policy change include BAIC Group, BYD, Dongfeng Motor and Lifan Group.