The policy of halving the car purchase tax for some passenger cars, which has been implemented since June 1, has been “full moon”. The latest data from the State Administration of Taxation shows that in the first month of the implementation of the new policy, a total of 7.1 billion yuan was reduced in vehicle purchase tax and 1.097 million vehicles were reduced. In terms of displacement, the tax reduction for passenger cars with a displacement of 1.6 liters and below is 3.4 billion yuan, accounting for about 48%; the tax reduction for passenger cars with a displacement of 1.6 to 2.0 liters is 3.7 billion yuan, accounting for 3.7 billion yuan about 52%.
Vehicle purchase tax is a one-time tax levied on units and individuals who purchase taxable vehicles within the territory of my country during the purchase process, and the special funds are dedicated to the construction of national transportation infrastructure.
As an important pillar industry of the national economy, the automobile industry has a long chain, involves a wide range of employment, and plays a large role in stimulating consumption. Stabilizing and expanding automobile consumption is of great significance to stabilizing the economy and employment. In late May, the executive meeting of the State Council further deployed a package of measures to stabilize the economy, proposing a phased reduction of 60 billion yuan in tax on the purchase of some passenger cars. On May 31, the Ministry of Finance and the State Administration of Taxation issued an announcement that the purchase date of 2.0-liter bicycles with a purchase date between June 1, 2022 and December 31, 2022 and the price of a bicycle (excluding VAT) does not exceed 300,000 yuan. For passenger cars with displacements below and below, the vehicle purchase tax will be halved.
“This policy is to work together from both the consumer side and the supply side. On the consumer side, it can directly reduce the cost of consumers’ car purchases, effectively mobilize consumers’ enthusiasm for car purchases, help release the potential of automobile consumption and expand domestic demand. It will help alleviate the impact of the epidemic on the auto industry, speed up the resumption of work and production of auto companies, and promote the overall recovery and sustainable development of the industry.” said Li Ping, deputy director of the Taxation Research Institute of the State Administration of Taxation.
Liu Yunmao, deputy director of the Department of Goods and Services Tax of the State Administration of Taxation, said that the preferential policy for car purchase tax has three characteristics: First, the scope of benefits is “expanded”, and the displacement limit of passenger cars that can enjoy the tax reduction policy is limited from 1.6 liters Increase to 2.0 liters; second, the policy is “more timely”, and it is clear that eligible passenger cars purchased from June 1, 2022 to December 31, 2022 can enjoy the tax reduction policy, which is conducive to rapid , effectively stimulate automobile consumption; third, policy regulation is “more precise”, and the restriction that the price of a bicycle (excluding value-added tax) does not exceed 300,000 yuan is put forward, so as to give full play to the role of precise regulation and control of tax policy and benefit mass consumption.
Experts believe that in the context of the increasing downward pressure on my country’s economy, the introduction of a phased halving of car purchase tax policy has released the “warmth” of fully supporting and promoting the recovery of the auto industry.
It is reported that in order to implement this policy better and faster, under the unified deployment of the State Administration of Taxation, local taxation departments quickly completed the development, testing and upgrading of the collection and management information system, and comprehensively carried out policy publicity and interpretation. After the policy was officially implemented, local taxation departments actively followed up the implementation to ensure the smooth operation of the system and the smooth implementation of the policy.
With the support of a series of policies, the passenger car industry is “driving” out of the predicament of the previous period. According to data from the Automobile Market Research Branch of the China Automobile Dealers Association, from June 1 to 26, the passenger car market retailed 1.422 million units, a year-on-year increase of 27% and an increase of 37% from the same period last month.
“In the next step, the tax department will continue to pay attention to the implementation of the policy to ensure that the tax reduction bonus is implemented, and support the development of consumption and the automobile industry.” Liu Yunmao said.
It is worth noting that the special fund for vehicle purchase tax is dedicated to support the construction of national transportation infrastructure. Statistics show that by the end of 2021, the total mileage of highways in my country is 5.2807 million kilometers, of which the mileage of expressways ranks first in the world with 169,100 kilometers. Among them, the important role played by the car purchase tax is inseparable.
Li Ping introduced that the use of car purchase tax serves the national strategic arrangement, and it is tilted towards the central and western regions. It is important for the implementation of major national strategies such as poverty alleviation, rural revitalization, and coordinated regional development, and promotes coordinated development between regions and urban and rural areas and production factors. Free movement also has a positive effect.
Data from the Ministry of Transport shows that during the “13th Five-Year Plan” period, my country has invested more than 950 billion yuan in vehicle purchase tax in poverty-stricken areas, accounting for 68% of all vehicle purchase tax. The battle against poverty and the implementation of the rural revitalization strategy.
Recently, the Ministry of Finance and the Ministry of Transport issued a notice to further clarify that “expenditure on coastal port public infrastructure construction” will be added to the scope of vehicle purchase tax revenue to subsidize local capital expenditures. Among them: for the public infrastructure in important port areas, the eastern and western regions are subsidized by 50% and 60% of the project cost respectively; for other public infrastructure in the port area, the eastern and western regions are subsidized by 30% and 40% of the project cost respectively. grant.
The tax collected by the vehicle purchase tax serves the construction of transportation infrastructure, is conducive to improving traffic conditions, and is beneficial to the production and life of the people, and has played an active role in my country’s transportation development. In recent years, the preferential policies for car purchase tax that have been introduced many times have played an important role in promoting consumption and boosting the market. “Taxes also play the functions of raising construction funds and regulating economic operation, which shows that the role of taxation is being further strengthened.” Li Ping said. (Zeng Jinhua)
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责编：张慕琛 ]