Ministry of Finance, State Administration of Taxation: Adjusting the consumption tax policy on super luxury cars.

According to the website of Securities Times APP, on July 17th, the Ministry of Finance and the State Administration of Taxation issued an announcement adjusting the consumption tax policy for super luxury small cars. The announcement states that the scope of collection for super luxury small cars has been adjusted to "passenger cars and medium to light commercial vehicles of various power types (including pure electric, fuel cell, etc.) with a retail price of 900,000 yuan (excluding VAT) and above". Consumption tax will only be levied on super luxury small cars such as pure electric and fuel cell cars that do not have cylinder capacity (displacement) at the retail level. Taxpayers selling second-hand super luxury small cars will not be subject to consumption tax.