Economy

China's legislature to vote on draft law for vehicle taxes

(Xinhua)
Updated: 2011-02-25 11:21

BEIJING - The Standing Committee of the National People's Congress (NPC) will vote on draft laws on vehicle and boat taxes at the end of its bimonthly sessions on Friday.

The group is also expected to vote on protecting the nation's intangible cultural heritage and a draft amendment to the Criminal Law.

Related readings:  Draft vehicle tax bill gets comments from public  Opinions sought for vehicle tax proposal  China auto sales up 13.8%  Chinese lawmakers to vet car tax, new labor rule

The Chairperson's Council of the NPC Standing Committee adopted the decision at a Thursday meeting presided over by NPC Standing Committee Chairman Wu Bangguo.

The three drafts will undergo further deliberation and revision based upon the opinion of the members of the NPC Standing Committee before the laws are put to a vote.

Under the draft law on vehicle and vessel taxes, there will be a reduction in taxes for vehicles with engines smaller than 2.0 liters, which accounts for 87 percent of China's cars. Vehicle owners would also be required to submit tax certificates in order to qualify for a road-worthiness certificate.