What is the Vehicle and Vessel Tax?
1 Answers
Vehicle and Vessel Tax refers to a tax levied on the owners or managers of vehicles and vessels (hereinafter referred to as vehicles and vessels), with vehicles and vessels as the taxable objects. Vehicles and vessels here refer to those that are required by law to be registered with the vehicle and vessel administration departments. In China, the applicable tax amount is implemented in accordance with the "Vehicle and Vessel Tax Item and Amount Table". More relevant information is as follows: 1. The financial departments and tax authorities of the State Council of China may, based on actual conditions, subdivide tax items within the prescribed tax item scope and tax amount range, and specify the tax amount range for vehicle sub-items and the specific applicable tax amount for vessels. The specific applicable tax amount for vehicles is determined by the provincial, autonomous region, and municipal governments within the prescribed tax amount range for sub-items. 2. Article 4 of the "Vehicle and Vessel Tax Law" stipulates that energy-saving and new energy vehicles and vessels may be subject to reduction or exemption of the Vehicle and Vessel Tax; for those affected by severe natural disasters and facing tax payment difficulties, or those with other special reasons that genuinely require tax reduction or exemption, the Vehicle and Vessel Tax may also be reduced or exempted. Specific measures shall be stipulated by the State Council and reported to the Standing Committee of the National People's Congress for the record.
