December 14, 2016 / 7:51 AM / 10 months ago

China to extend tax cut for small-engine vehicles to 2017 - sources

BEIJING, Dec 14 (Reuters) - China will extend a tax cut on small-engine vehicles to 2017, rather then allowing it to expire at year’s end as planned, two sources with knowledge of the matter told Reuters.

It is unclear how much the rate will be reduced from the normal vehicle purchase tax of 10 percent under the extension. The government slashed the tax to 5 percent for vehicles with 1.6 litre engines and below in October 2015. (Reporting by Jake Spring; Editing by Muralikumar Anantharaman)

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