Vietnam Raises Taxes on Auto Components, Spare Parts
The Vietnamese Ministry of Finance (MoF) has decided to revise the preferential import taxes on automobile component and spare parts up by 5 per cent-10 per cent compared to the rates announced on April 17 this year, the People newspaper reported, citing MoF sources.
The new tax rates will be effective on all customs declaration as of May 20, the paper said.
Vietnam spent US$991 million in importing automobiles, components and spare parts in the first four months of this year, an on-year rise of 333.2 per cent, according to the General Statistics Office. (People, Youth)
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