China extends NEV purchase tax breaks to 2027

China will extend its tax breaks for the purchase of new energy vehicles between 2024 to 2027, according to a joint announcement from the country’s Ministry of Finance, State Taxation Ministration, and Ministry of Industry and Information Technology on Wednesday June 21.

The existing NEV tax exemption was due to end on December 31, 2023.

China’s purchase tax exemption on NEVs will remain in place between January 1 2024, to December 31...


Carrie Shi

Yiwen Ju

Zihao Li

June 21, 2023

06:27 GMT

Shanghai, Beijing, Singapore