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China to suspend sales tax on green cars from Sept 1
July 9, 2014 / 10:42 AM / 3 years ago

China to suspend sales tax on green cars from Sept 1

BEIJING, July 9 (Reuters) - China will stop levying sales tax on approved models of green cars from September 1 through to the end of 2017, the country’s cabinet said on Wednesday, in the latest government effort to tackle pollution.

The State Council said at a weekly meeting chaired by Premier Li Keqiang that electric cars, some hybrid vehicles and fuel-cell powered cars will be exempted from the tax.

China will also further develop its insurance industry, the central government said on its website. (Reporting by Xiaoyi Shao and Koh Gui Qing; Editing by Clarence Fernandez)

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