China Regulator Said to Propose 50% Cut to Car Purchase Tax - Bloomberg

Chin'a top economic body is proposing cutting the tax levied on car purchases by half, according to Bloomberg, citing people familiar with the matter.

The National Development and Reform Commission submitted a plan to cut the purchase tax to 5% from 10% for passenger vehicles with engines bigger than 1.6 litters. No decision has been made on implementation.

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