Summary
(1) The Ministry of Industry and Information Technology has announced the latest updates to the list of licensed automobile production enterprises and products, as well as the directories for vehicles eligible for tax exemptions and reductions. These updates are in accordance with the "Administrative License Law of the People's Republic of China", the "Decision of the State Council on Setting Administrative Licenses for Projects That Must Be Retained", and relevant tax policies.
(2) Specifically, the list of licensed automobile production enterprises and products (No. 397) has been updated, as well as the directories for vehicles eligible for tax exemptions and reductions. The directories include the "Directory of Energy-Saving and New Energy Vehicles Eligible for Vehicle and Vessel Tax Concessions" (No. 76) and the "Directory of New Energy Vehicles Eligible for Vehicle Purchase Tax Exemptions" (No. 20).
(3) The Ministry of Industry and Information Technology has consulted with the State Taxation Administration and obtained their approval for the updated directories. The announcements are intended to provide guidance for automobile production enterprises and vehicle owners on the tax policies and regulations that apply to them.
(4) The updated directories include new energy-saving and new energy vehicles that meet specific technical requirements, which are subject to change over time. The Ministry of Industry and Information Technology has adjusted the technical requirements for new energy vehicles to be eligible for tax exemptions and reductions.
(5) The announcements also mention the following relevant policies:
(6) - The "Notice of the Ministry of Finance, the State Administration of Taxation, the Ministry of Industry and Information Technology, and the Ministry of Transport on the Tax Concessions for Energy-Saving and New Energy Vehicles" (Finance [2018] No. 74) - The "Notice of the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Administration of Taxation on Adjusting the Technical Requirements for New Energy Vehicles Eligible for Tax Concessions" (2024 No. 10) - The "Notice of the Ministry of Finance, the State Administration of Taxation, and the Ministry of Industry and Information Technology on Exempting Vehicle Purchase Tax for New Energy Vehicles" (2017 No. 172) - The "Notice of the Ministry of Finance, the State Administration of Taxation, and the Ministry of Industry and Information Technology on Continuing and Optimizing the Tax Concessions for New Energy Vehicles" (2023 No. 10) - The "Notice of the Ministry of Industry and Information Technology, the Ministry of Finance, and the State Administration of Taxation on Adjusting the Technical Requirements for New Energy Vehicles Eligible for Tax Concessions" (2023 No. 32)
(7) The Ministry of Industry and Information Technology has announced the updated directories as a means of providing clarity and guidance on the tax policies and regulations that apply to new energy-saving and new energy vehicles.