SHANGHAI, May 17 (SMM) – China will withdraw tax exemptions on purchases of 319 models of new-energy vehicles (NEVs), the Ministry of Industry and Information Technology (MIIT) said on Thursday May 17.
The NEVs will be removed from the list of NEVs that are exempted from purchase tax, as no output or imports of those vehicles were seen as of the end of April 2018 from when the list was issued in April 2017.
This move is expected to develop the NEV market in China and to phase out older models of vehicles.
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