China is set to scrap tax breaks for energy-saving vehicles and new-energy vehicles (NEVs) in a move that could have significant implications for the country's electric vehicle market. The decision, which is expected to be implemented in the coming months, will see an end to tax exemptions and reduced registration fees for vehicles that meet certain energy-saving and environmental standards. The tax breaks were introduced in 2014 as part of China's efforts to promote the adoption of cleaner and more energy-efficient vehicles, but with the country's electric vehicle market now maturing, the government is looking to level the playing field and encourage more sustainable growth. The changes are likely to have a major impact on manufacturers and consumers alike, and could potentially slow the growth of China's electric vehicle market.
China to end vehicle and vessel tax breaks for energy-saving cars and NEVs chinadailyasia.com
