Companies / China
China Rethinks Vehicle Taxes
March 2006 | Industry NewsThe Chinese government is aiming to reduce the country's oil consumption in its latest Five-year Plan, which includes a change to consumption taxes on vehicles. Taxes on cars with an engine capacity of over 2-litres will be raised from a maximum of 8% to 20%. Meanwhile, taxes on smaller vehicles with a capacity of between 1- and 1.5-litres will be reduced from 5% to 3% to encourage the use of more economical
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