Is Vehicle Insurance Still Subject to Vehicle and Vessel Tax?

[Whitney]

Vehicle insurance is still subject to vehicle and vessel tax. Below is a detailed introduction to the vehicle and vessel tax: 1. Definition: Vehicle and vessel tax is a type of tax levied on the owners or managers of vehicles and vessels (hereinafter referred to as vehicles and vessels), with vehicles and vessels as the characteristic objects. The vehicles and vessels referred to here are those that should be registered with the vehicle and vessel management authorities according to law. In China, the applicable tax rates are implemented in accordance with the "Vehicle and Vessel Tax Item Tax Rate Table." 2. Payment Time: The vehicle and vessel tax must be paid annually, and late payments will incur overdue fines. There are no specific requirements for the payment time each year. 3. Calculation: Across the country, the vehicle and vessel tax is calculated based on the displacement and model of the vehicle. The larger the displacement, the higher the vehicle and vessel tax.