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

October 29, 2018 6:17 AM EDT

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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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