Is the Vehicle and Vessel Tax Paid Annually?

[Raymond]

Vehicle and vessel tax is a type of property tax, paid once a year. It can be paid together with compulsory traffic insurance or through online payment methods such as WeChat. All motorized and non-motorized vehicles and vessels are required to pay this tax. Below are detailed explanations regarding the vehicle and vessel tax: 1. Definition: The vehicle and vessel tax refers to the tax that owners of vehicles and vessels within the territory of the People's Republic of China are required to pay according to the Vehicle and Vessel Tax Law of the People's Republic of China. 2. Reduction and exemption standards: The vehicle and vessel tax divides the tax brackets for automobiles into 7 ranges based on engine displacement. For energy-saving vehicles, the tax is reduced by half; for new energy vehicles and vessels, the tax is exempted.