Recently, a reporter learned from official sources that the State Administration of Taxation has re-examined and updated the lowest taxation rate for vehicle purchase tax across more than 40,000 models, covering nearly all vehicles available in the market. Starting August 1st, all localities will be able to implement the new minimum taxable price. According to a dealer in Chengdu, the current purchase price is calculated by dividing the invoice price of the vehicle by 11.7. Following the recent adjustment in the vehicle purchase tax, the minimum taxable price for the Toyota Camry has dropped from approximately 31,000 yuan to 29,000 yuan. For the Buick Regal 7252GL model, the minimum tax was previously around 22,500 yuan but now stands at about 21,200 yuan. Smaller, more economical cars have seen a smaller reduction, usually just a few hundred yuan. This change is expected to make car purchases more affordable for many consumers, especially those looking to buy mid-range or budget-friendly vehicles. The updated policy reflects the government's ongoing efforts to support the automotive industry and stimulate consumer demand. It also highlights the importance of staying informed about tax adjustments when planning to purchase a vehicle.
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