What is the Vehicle and Vessel Tax in Car Insurance?
1 Answers
In insurance, the 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) based on the characteristics of the vehicles and vessels. Vehicle and Vessel Tax Collection Standards: The vehicle and vessel tax collection standard is a measure to determine how much tax is levied. The vehicle and vessel tax is a local tax, so in addition to complying with the "Interim Regulations of the People's Republic of China on Vehicle and Vessel Tax" and other regulations, the collection standard should also be determined based on the specific management measures formulated by local tax authorities. Vehicle owners can pay the vehicle and vessel tax when purchasing compulsory traffic insurance. Payment Methods: According to regulations, for the convenience of taxpayers, for motor vehicles other than tractors, military and armed police vehicles, police vehicles, diplomatic vehicles, and public transport vehicles exempted by provincial governments, if the taxpayer has not paid the tax, the vehicle and vessel tax should be calculated and paid according to the local tax standard when purchasing compulsory motor vehicle traffic accident liability insurance. In other words, the vehicle and vessel tax can be collected and paid by the insurance company along with the compulsory traffic insurance.