Vietnam to Apply New Import Duty on Trucks, Automobile Parts
The Ministry of Finance has recently decided to apply new import tariffs on trucks and automobile parts amid car prices in the local market are down by 15 per cent over last four weeks, state media reported.
Internal combustion engines with piston capacity of over 1,000 cc, completely assembled for trucks with weight ranging from 10 to 20 tons will be taxed 15 per cent and those incompletely assembled will be taxed 10 per cent.
Internal combustion engines of the same type for trucks weighting over 20 tons will be taxed 3 per cent.
Gear boxes for trucks weighted from 10 to 20 tons will be taxed 5 per cent, exhaust pipe and sound moderator will be levied 15 per cent.
Other types of automobile parts including springs, body work will be taxed 20 per cent, for trucks weighted over 20 tons will be levied 30 per cent.
Vietnam imported US$6.2 billion worth of automobiles in the first eight months this year, up 51 per cent on year, according to the General Statistics Office. (New Hanoi)
Vietnamese
