AutoBeta(AutoBeta.net)03/26 Report--

During the two sessions, the State Council will definitely deepen the reform of value-added tax. On April 1, the policy of reducing the rate of value-added tax in China will be formally implemented, reducing the current tax rate of 16% in manufacturing and other industries to 13%. The current 10% tax rate in transportation, construction and other industries will be raised to 9%.

In response to the VAT reduction policy, many luxury brands have cut their regional guide prices in China ahead of schedule, and FAW-Volkswagen also announced price cuts for all its models today.

FAW-Volkswagen announced on the 26th that in order to respond positively to the national policy of "tax reduction and fee reduction", the FAW-Volkswagen brand has reduced the official guiding price of all models on sale by up to 8000 yuan since March 27.

Unlike many luxury brands, Volkswagen's price reduction is not more than 10,000, the highest is CC's 8, 000 yuan, mostly in 3, 000 or 5, 000, but whether consumers can benefit in the end depends on the various preferential policies of terminal dealers.

As early as March 2018, the State Council reduced the VAT rate from 17% to 16% in manufacturing and other industries, and from 11% to 10% in transportation, construction and other industries. The re-adjustment of VAT also made clear the government's determination and efforts to reduce the burden on enterprises and stimulate market vitality.

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