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Alarm - China - Plans to increase taxes for vehicles with large engines
Owners of sports cars, SUVs may pay up to 27% more in nation's effort to improve energy security.
HONG KONG,China -New York Times, by Keith Bradsher -Aug 28, 2005: -- Alarmed by high world oil prices and sporadic shortages of gasoline and diesel fuel in big cities this summer, China's leaders are drafting plans to impose steep taxes on cars and sport utility vehicles with gas-guzzling engines... The taxes would add as much as 27 percent to the price of vehicles with big engines, notably sports cars and SUVs, auto industry officials and people advising the government on the plan said... At the same time, taxes may be cut slightly for models with the smallest, most efficient engines, though the details of these cuts are still under discussion, they said... Under the new rules nearing completion, the taxes would range from 1 percent or 2 percent for vehicles with the smallest engines to 20 percent for vehicles with engines of four liters or more, said director of the Auto Project on Energy and Climate Change. That group is a nongovernmental organization in Beijing that has advised officials on fuel economy policy, though it has not been directly involved in drafting the new tax regulations...
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