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Motor car excise tax to rise

Released at: 10:01, 01/10/2015

Motor car excise tax to rise

MoF proposes new tax regime on vehicles of different sizes.

by Son Ho

The Ministry of Industry and Trade has proposed new tax policies to legal amendments, significantly increasing excise taxes on automobiles with engines of over 2,000 cubic centimeters (cu cm). The ministry will apply exceptionally high tax rates on these automobiles under previous guidance from the government in July, which will take effect on July 1, 2016.

Motor car Adjusted tax rate (per cent) Current tax rate (per cent)

Cylinder capacity from 2,000 cm3 to 3,000 cm3

70

50

Cylinder capacity from 3,000 cm3 to 4,000 cm3

90

60

Cylinder capacity from 4,000 cm3 to 5,000 cm3

110

60

Cylinder capacity from 5,000 cm3 to 6,000 cm3

130

60

Cylinder capacity of over 6,000 cm3

150

60

 

In July the government requested the ministry adjust taxes on automobiles by dividing them into smaller categories, of nine seats and with a cylinder capacity of 3,000 cu cm and over.

The ministry also proposed cuts to personal income tax (PIT) for expert trainers and experts specializing in technology transfer working in the field of developing support industries.

PIT will be cut by 50 per cent for professionals involved in human resources training and technology transfer that serve the development of support industries in Vietnam, for a maximum period of one year.

  • TAGS
  • motor
  • car

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