Rules for Taxation of Acquiring Vehicle IssuedA ten percent tax rate in the purchasing or acquiring a vehicle as a reward or gift was stipulated in a regulation that was issued Thursday by the State Council.As of January 1, 2001, vehicle owners should pay the tax within 60 days from the date the vehicle was acquired, in whatever legal manners, says the regulation signed by Chinese Premier Zhu Rongji on October 22 this year. Public security departments are not allowed to grant licenses when owners fail to pay the tax, according to the rules. According to the regulation, free tax treatment goes to vehicles owned by foreign diplomats, the People's Liberation Army (PLA) and the People's Armed Police Force. |
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