The Ministry of Finance and the State Administration of Taxation, together with the relevant departments, drafted the "People's Republic of China Vehicle Purchase Tax Law (Draft for Comment)" to publicly solicit opinions from the public yesterday. The "Draft for Comment" adopts the tax system to increase the "Provisional Regulations on Vehicle Purchase Tax of the People's Republic of China" into law; the "Draft for Comment" stipulates that the tax rate for vehicle purchase tax is still 10%. Data show that from 2001 to 2016, the country's cumulative vehicle purchase tax was 2.3 trillion yuan, an average annual increase of 17%.
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