Arab Today, arab today china to scrap purchase tax on electric vehicles
Last Updated : GMT 01:22:36
Arab Today, arab today
Arab Today, arab today

China to scrap purchase tax on electric vehicles

Arab Today, arab today

Arab Today, arab today China to scrap purchase tax on electric vehicles

Model poses by an i3
Shanghai - AFP

China will exempt electric cars and other types of "new energy" vehicles from purchase tax, the government said, as it seeks to reduce pollution and conserve resources.
The State Council, or cabinet, said that buyers of new energy vehicles -- fully electric, hybrid and fuel cell cars -- would not have to pay the levy from September to the end of 2017, according to a statement.
The tax is 10 percent of the net value of the vehicle, according to state media.
"For achieving industrial development and environmental protection, this is a win-win," the State Council said in the statement Wednesday.
The exemption applies to imported vehicles as well as domestically produced ones, the statement said, adding the government would compile a catalogue of eligible models.
China has sought to increase ownership of electric and hybrid vehicles to ease chronic pollution and reduce reliance on oil imports, but high prices, lack of infrastructure and consumer reluctance have been obstacles.
The government has set a target of having five million new energy vehicles on the streets by 2020.
But China has only 70,000 currently in use, the China Daily newspaper reported Thursday.
The central government also offers outright subsidies for electric passenger car buyers, which were set at $5,700 to $9,800 last year, while local incentives can bring the price down further.
Lack of charging stations and the desires of Chinese consumers -- many first time owners -- for big, flashy vehicles have hurt electric car sales.
Policymakers are seeking to move away from state spending to domestic consumption as a key driver of the economy, which has been slowing.
Several foreign auto makers have announced plans to develop environmentally-friendly vehicles in China, despite the currently small market.
US electric car maker Tesla Motors has also caused a stir with aggressive marketing and by pitching its imported vehicles to luxury buyers in China, although analysts say they might only find a niche market.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to scrap purchase tax on electric vehicles Arab Today, arab today china to scrap purchase tax on electric vehicles

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today china to scrap purchase tax on electric vehicles Arab Today, arab today china to scrap purchase tax on electric vehicles

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today unveils Joon - the 'millenials' airline

GMT 13:36 2017 Saturday ,23 September

unveils Joon - the 'millenials' airline
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Iran tests new medium-range missile

GMT 21:24 2017 Saturday ,23 September

Iran tests new medium-range missile
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today All eyes on May as she prepares

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares
Arab Today, arab today Big Western brands polluting oceans

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Carmakers face billions in European

GMT 12:37 2017 Saturday ,23 September

Carmakers face billions in European
Arab Today, arab today Mercedes pumps 1 bln euros    

GMT 06:04 2017 Friday ,22 September

Mercedes pumps 1 bln euros    
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 18:09 2017 Thursday ,21 September

China lifts 10-year travel ban

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 08:39 2017 Friday ,22 September

New Hurdles as Republicans Rush

GMT 06:49 2017 Friday ,22 September

O'Leary: Could ground more planes

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday