Vietnam Imports US$1.3Bln CBU Cars, Auto Parts in Jan-May
Vietnam is estimated to have paid US$1.306 billion for imports of automobiles and spare parts in the first five months of this year, up 292.4 per cent on-year, the government-run General Statistics Office (GSO) reported on May 26.
The country bought 35,400 finished automobiles worth of US$625 million in the period, up 505.8 per cent in volume and 432.4 per cent in value compared to the same period last year, the statistics showed.
In April, 5,500 completely-built cars worth US$96 million were imported, bringing the total import value of CBU cars and components up to US$246 million in the month.
The Ministry of Finance has recently signed a decision raising the tax on car-part imports by 5 per cent-10 per cent. The new tax rates were applied for customs declarations as of May 20.
Last month the import tax rate for car parts had already been increased from 3 per cent to 5 per cent.
At present, many used car dealers complain that the new tax policy on used imports has made their business unprofitable and forced them to seek other jobs.
More difficulties have come as the Ministry of Industry and Trade released a new regulation, adding the cars (carrying less than nine people) into the list of consumer products that must pay taxes at the ports before clearance. (GSO May Edition, baomoi.com)
Vietnamese
