What is the Vehicle and Vessel Tax in Insurance?
1 Answers
Vehicle and vessel tax in insurance 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. The vehicles and vessels referred to here are those that should be registered with the vehicle and vessel management department in accordance with the law. More related information is as follows: 1. According to regulations: For the convenience of taxpayers, for motor vehicles other than tractors, military and armed police special 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 vehicle and vessel tax rate standard when purchasing compulsory motor vehicle traffic accident liability insurance. That is to say, the vehicle and vessel tax can be collected and paid by the insurance company together with the compulsory insurance. 2. The vehicle and vessel tax should be levied according to the natural year: However, for newly purchased vehicles and vessels, the taxable amount for the year of purchase should be calculated monthly from the month when the tax obligation occurs. The calculation formula is: Taxable amount = (Annual taxable amount / 12) * Number of taxable months.
