What does 'water car' mean?
1 Answers
There is no strict legal definition for 'water car.' Within the industry, there is a commonly accepted understanding that a 'water car' refers to a vehicle that enters China by being towed across the border (dragged through water), hence the term 'water-crossed car.' In simple terms, it is a smuggled vehicle. Smuggled vehicles are those that have not been imported through the country's official import channels and have not paid the required taxes. Below is relevant information about vehicle purchase tax: 1. Introduction: Vehicle purchase tax is a tax levied on entities and individuals who purchase specified vehicles within the country, evolving from the vehicle purchase surcharge. 2. Tax payment location: For taxable vehicles requiring registration, the tax should be declared and paid to the competent national tax authority at the vehicle registration location; for taxable vehicles not requiring registration, the tax should be declared and paid to the competent national tax authority at the taxpayer's location.