What happens if the vehicle and vessel tax is overdue?
1 Answers
Handling methods for overdue payment of vehicle and vessel tax: From the date of tax arrears, the vehicle owner is required to pay a daily late fee of 0.05% of the overdue tax amount. The calculation formula is: Late fee payable = Vehicle and vessel tax payable × 0.05% × Number of overdue days. Below are the relevant details: 1. Definition of vehicle and vessel tax: The so-called vehicle and vessel tax refers to a tax that owners or managers of vehicles and vessels within the territory of the People's Republic of China are required to pay in accordance with the Vehicle and Vessel Tax Law of the People's Republic of China. Starting from July 1, 2007, vehicle owners need to pay the vehicle and vessel tax when purchasing compulsory traffic insurance. 2. The following vehicles are subject to a 50% reduction in vehicle and vessel tax: (1) Passenger vehicles with a displacement of 1.6 liters or less (including 1.6 liters) that use gasoline or diesel (including non-plug-in hybrid passenger vehicles and dual-fuel passenger vehicles); (2) Light and heavy commercial vehicles that use natural gas, gasoline, or diesel (including non-plug-in hybrid, dual-fuel, and bi-fuel light and heavy commercial vehicles) as well as light and heavy commercial vehicles that meet the standards for using gasoline or diesel. 3. New energy vehicles and vessels are exempt from vehicle and vessel tax: (1) New energy vehicle models that meet the standards, such as pure electric commercial vehicles, plug-in (including range-extended) hybrid vehicles, and fuel cell commercial vehicles, are exempt from vehicle and vessel tax; (2) Vessels with main propulsion power devices that are pure natural gas engines and meet the standards are exempt from vehicle and vessel tax (engines that use a small amount of diesel for ignition and where the ignition fuel's heat value does not exceed 5% of the total fuel heat value are considered pure natural gas engines).
