Zero import tax expected to raise Vietnam’s car ownership

The Ministry of Finance’s Circular 28/2013/TT-BTCstates that the import tax imposed on used cars with engine displacementof less than 1,000cc will be 4,200 USD per unit instead of the current3,500 USD.The tax for each used car with a cylinder capacity of between 1,000-1,500cc will become 9,600 USD, a rise of 1,600 USD.The adjustment will narrow the gap between import tax on used cars and brand new cars, especially in the compact car division.DeputyPrime Minister Hoang Trung Hai last month asked the Ministry of Financeto review the import tax on used cars in a bid to restrain importersfrom disguising brand new…... [read more]

The import tax rate on new cars into Vietnam from ASEAN nations will be reduced sharply from 2007 from the current rate of 90 per cent, Saigon Economic Times Weekly quoted the Ministry of Finance’s source as saying. The import duties rate on automobiles of more than nine seats will be cut to 20 per cent in early 2007, 10 per cent in 2008 and 5 per cent in 2009, revealed the Finance Ministry’s negotiation plan with ASEAN nations on the CEPT/AFTA tax roadmap, which has been submitted to the Government.  Meanwhile, the import tariff rate on passenger cars of less…... [read more]

Import taxes on used cars of nine seats or fewer and an engine displacement of less than 1,500cc will increase by up to 20 per cent on April 28.According to Circular 28/2013/TT-BTC issued by the Ministry of Finance, the import tax imposed on used cars with engine displacement of less than 1,000cc will be US$4,200 per unit instead of the current $$3,500.The tax for each used car with a cylinder capacity of between 1,000-1,500cc will become $9,600, a rise of $1,600.The adjustment will narrow the gap between import tax on used cars and brand new cars, especially in the compact…... [read more]

The move comes under the Free Trade Agreement between Viet Nam and the Eurasian Union (EAEU).According to Decree 137/2016/ND-CP, the tariff reduction schedule will be implemented under three stages -- from now until December 31, 2016, from January 1, 2017 until December 31, 2017, and from January 2018 until December 31, 2018.Specifically, import tax rate of 4,959 tariff lines dropped to zero from October 5, 2016, the date the Viet Nam-EAEU FTA came into effect, until December 31, 2017.The goods joining the zero import tax included input material for production, such as material and sub-material of textiles, garments, leather, footwear…... [read more]

The Vietnamese Ministry of Finance has decided to reduce import taxes on almost all kinds of pulp and paper to zero from January 1, 2008, from previous 1 per cent and 3 per cent, in response to proposal of the Vietnam Pulp and Paper Association. The Ministry of Industry and Trade said on its web site that the zero import tax, the same level in other regional countries, will facilitate operations of local companies. Vietnamese pulp and paper companies have faced challenges like material shortage, high import taxes that forced them to increase prices of paper by 30 per cent and 40…... [read more]

Under the circular, the import rate of zero percent will be applied to commodities of Lao origin, including rice of various kinds and tobacco leaves. In addition, imported goods should have a certificate of origin (C/O), issued by an authorized office of the Laos People’s Democratic Republic and customs procedures cleared at border gates. At the same time, Vietnamese entrepreneurs are allowed to import rice and paddy products under import quotas. For importers of tobacco leaves, they must have a license granted with quotas by the MoIT. The circular will take effect as of January 1, 2012.... [read more]

According to a new decree issued by the Ministry of Finance, the import tax imposed on used cars with a cylinder, capacity of less than 1,000cc will be US$4,200 a unit instead of US$3,500 currently.The tax is US$9,600 for each used car with a cylinder capacity of 1,000-1,500cc, up US$1,600 from the current level.... [read more]

According to a new decree issued by the Ministry of Finance, the import tax imposed on used cars with a cylinder, capacity of less than 1,000cc will be $4,200 a unit instead of $3,500 currently. The tax is $9,600 for each used car with a cylinder capacity of 1,000-1,500cc, up $1,600 from the current level. Source QĐND... [read more]

This is a key part of the finance ministry's proposal being sent to relevant ministries and sectors to get their opinion with regard to the reduction of import tax on spare parts and components for many models of cars. It aims to support the development of the domestic automobile industry.Under the itinerary, the import tax on completely built-up units from ASEAN will be zero per cent by 2018, so that the number of cars from this region to Viet Nam will significantly increase.As for vehicles with engine displacement of 2,000cc and below, the finance ministry proposed to reduce tax on…... [read more]

Under the itinerary, the import tax on completely built-up units from ASEAN will be zero per cent by 2018, so that the number of cars from this region to Viet Nam will significantly increase — Photo soha.vnUnder the itinerary, the import tax on completely built-up units from ASEAN will be zero per cent by 2018, so that the number of cars from this region to Viet Nam will significantly increase. As for vehicles with engine displacement of 2,000cc and below, the finance ministry proposed to reduce tax on seven parts of the engine group and other components such as gear-box,…... [read more]




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