China Removes Key Tax on Electric, Hybrid, Fuel Cell Commercial Vehicles

摘要

China has extended a tax exemption already available to consumers who buy the most fuel-efficient cars to companies purchasing similarly green vehicles for business purposes. China's State Council announced that electric, plug-in hybrid and fuel-cell commercial vehicles will be exempt from the country's so-called vessel tax, which traditionally is applied to new cars, trucks and commercial vehicles at the time of purchase. The country's main decision-making body also said buyers of certain gasoline and diesel passenger vehicles-those that meet strict fuel-economy requirements-will have their vessel tax cut in half. The measures, effective immediately, are meant to spur sales of electric and hybrid vehicles and reduce fuel consumption and air pollution, according to a May 18 announcement from the State Council.