Recently, the Ministry of Finance and the State Administration of Taxation issued a notice and decided to abolish the consumption tax on automobile tire tax from December 1, 2014. This is another good news for the tire manufacturing industry. It is estimated that the city will reduce the consumption tax by 32 million yuan annually.
The country cancels the tire consumption tax Weihai will reduce taxes by 32 million yuan annually
As we all know, the function of consumption tax is to regulate income distribution, promote resource conservation and environmental protection, and guide healthy consumption. The consumption tax on automobile tires began in 1994. At that time, automobiles had not yet entered ordinary families and were lavishly consumed. Therefore, consumption tax was levied. After entering the 21st century, the car was "an old Wang Xietang before Yan, flew into the homes of ordinary people", the elimination of consumption tax is based on market changes and made.
Weihai Tire Manufacturing is well-developed. “Triangle†and “Chengshan†have a place in the domestic and foreign markets. Tire manufacturing is a key industry in Weihai City. Cancelling the consumption tax on automobile tires will undoubtedly bring great benefits to the tire industry and regional economic development in the city. According to statistics from the State Taxation Bureau, after the implementation of this policy, Weihai City expects to reduce or exempt 32 million yuan in consumption tax annually, which will inject new vitality into the development of the tire industry in Weihai.
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