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NEV tax exemption scheme extended until end of 2020

BEIJING – China has extended the purchase tax exemption scheme for new energy vehicles by three years until the end of 2020 in order to further support market development, according to an announcement released jointly by the Ministry of Finance, State Administration of Taxation (SAT), Ministry of Industry and Information Technology (MIIT) and Ministry of Science and Technology (MOST) on December 26.

Starting on January 1, 2018, however, NEVs must meet certain conditions before they can be listed in the Catalogue of New Energy Vehicle Models Exempted from Purchase Tax.

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