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New regulation fixes vehicle tax burden

A new vehicle purchase-tax regulation, which will come into force in July, is expected to further reduce the cost of buying a car and will regulate dealer practices, according to China National Radio. The new regulation set the tax rate at 10 percent, and identified vehicles that will not have the tax, including electric motorcycles. An announcement issued by the Ministry of Finance and State Taxation Administration recently said the regulation will adjust the taxable value to the actual sale price and not the manufacturer's suggested retail price.

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