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The Ministry of Finance and the State Taxation Administration have recently announced that, effective immediately, adjustments will be made to the consumption tax policy for super luxury cars. The threshold for taxation has been lowered from a retail price of 1.3 million yuan per vehicle (excluding VAT) to 900,000 yuan (excluding VAT). This new policy broadens the scope of taxation to encompass all passenger cars and light to medium commercial passenger vehicles, regardless of power type, with a retail price of 900,000 yuan or above. This includes vehicles powered by pure electric, fuel cell, and other alternative energy sources. Additionally, to avoid double taxation, no consumption tax will be levied on the sale of used super luxury cars. These adjustments are intended to foster rational consumer behavior and enhance tax equity.
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