Exemptions provided when expats return to Vietnam with a motor car, subject to certain conditions.
A new government decree permits Vietnamese expatriates returning to Vietnam to work for State-owned agencies on contracts of a year or more to enjoy certain import tax, special consumption tax, and value-added tax (VAT) exemptions when bringing their car back to Vietnam.
To be eligible for the tax exemption the car must meet certain conditions and technological standards required by Vietnamese law and regulations. For instance, the car must have been registered for at least six months in the country where the expatriate was living and its mileage must be no less than 10,000 kilometers when arriving in Vietnam.
If the contract between the expatriate and the State-owned agency ends and is not renewed the person can choose to re-export the car to the former country or sell it in Vietnam after paying all taxes regulated under Vietnamese law.
- oversea Vietnamese
- tax exemption
- car import