Prime Minister Nguyen Tan Dung has asked the Ministry of Finance andother relevant ministries to review tax policies and fix a new importtax rate for high-powered cars.
As per the instruction,nine-seater cars with an engine displacement of more than 3.0 litres aresubject to a special consumption tax rate of more than 60 percent.
Theinstruction was given during a recent meeting in Hanoi to discusspolicy to draw up a strategy and plans for the Vietnamese automobileindustry.
Currently, three kinds of taxes are levied on carssmaller than nine-seaters: a 45 percent tax rate for cars with enginedisplacement of less than 2.0 litres; 50 percent for cars havingdisplacement of between 2.0 and 3.0 litres; and 60 percent for cars witha displacement of more than 3.0 litres.
According to the PM'sinstruction, vehicles with smaller cylinders will enjoy lower specialconsumption tax and those with larger cylinders will be subject tohigher tax.
The country's strategic plan aims to develop theVietnamese automobile industry by 2025, and its vision for the period upto 2035 was approved by the government last year.
The plan will focus on manufacturing small-sized nine-seater cars with economical engines.
Ithas also set a target of manufacturing about 1.5 million cars in 2035,of which nine-seater cars will comprise 852,600 units, 10-seaters andbigger will comprise 84,400 units, trucks will make up 587,900 units andMPV will account for 6,500 units.
In addition, locally-producedautomobiles will account for 78 percent of the domestic demand. Theplan envisages export of 90,000 units in 2035.-VNA
As per the instruction,nine-seater cars with an engine displacement of more than 3.0 litres aresubject to a special consumption tax rate of more than 60 percent.
Theinstruction was given during a recent meeting in Hanoi to discusspolicy to draw up a strategy and plans for the Vietnamese automobileindustry.
Currently, three kinds of taxes are levied on carssmaller than nine-seaters: a 45 percent tax rate for cars with enginedisplacement of less than 2.0 litres; 50 percent for cars havingdisplacement of between 2.0 and 3.0 litres; and 60 percent for cars witha displacement of more than 3.0 litres.
According to the PM'sinstruction, vehicles with smaller cylinders will enjoy lower specialconsumption tax and those with larger cylinders will be subject tohigher tax.
The country's strategic plan aims to develop theVietnamese automobile industry by 2025, and its vision for the period upto 2035 was approved by the government last year.
The plan will focus on manufacturing small-sized nine-seater cars with economical engines.
Ithas also set a target of manufacturing about 1.5 million cars in 2035,of which nine-seater cars will comprise 852,600 units, 10-seaters andbigger will comprise 84,400 units, trucks will make up 587,900 units andMPV will account for 6,500 units.
In addition, locally-producedautomobiles will account for 78 percent of the domestic demand. Theplan envisages export of 90,000 units in 2035.-VNA
