Vietnam to Publish Roadmap to Adjust Car Import Tax in November
The Vietnamese Ministry of Finance will announce the roadmap to adjust car import tax in November this year, said Deputy Minister Truong Chi Trung.
The roadmap will be used for next five years under the country’s WTO commitments, Trung noted.
The import tax on new passenger cars regardless of cylinder capacity is now at 90 per cent, Trung said, adding that there will be four types of import tax basing on cylinder capacity ranging from 47 per cent, 52 per cent, 58 per cent and 70 per cent.
The special consumption and value added duties are unlikely to change much, the deputy minister elaborated. He did not say further.
Vietnam is imposing a 70 per cent import tax on new cars, a 10 per cent of value added tax and a 50 per cent special consumption tax. Taxes on used car imports have recently been raised by US$1,500 to US$3,000 for 2.0L-4.0L cars. (
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