China's Ministry of Finance and State Administration of Taxation have jointly issued Announcement No. 21 of 2020 which extends the vehicle purchase tax exemption for new energy vehicles in order to support the development of the new energy vehicle industry and promote automobile consumption.
This includes that with effect from 1 January 2021 to 31 December 2022, the purchase of new energy vehicles will be exempt from vehicle purchase tax, including pure electric vehicles, hybrid plug-in veh…