Since 2012, reduction of import many kinds of cars

The Ministry of Finance has simultaneously issued three circulars issued on the preferential import tariff of Vietnam in particular to implement the free trade area ASEAN (ATIGA), Area

ASEAN free trade - China ( ACFTA ) and the Free Trade Area ASEAN - South Korea ( AKFTA ) for the period 2012-2014 .

Pick-up truck imports from ASEAN decreased quite high since then .

In particular , under ACFTA tariff , from 1/1/2012 duty import of truck van , pick-up , load normal load of 5 tons or less will be reduced to 50 % from 60 % current ; vehicles over 5 tons payload fell to 30 % from the current 40 % . Tax imports of bicycles and motorcycles will also decrease to 40 % compared to the current 50 % .

At ATIGA tariffs , tax rates of most types of passenger cars imported CBU from ASEAN countries will be reduced to 70 % in 2012 , then dropped to 60 % in 2013 and 50 % in year in 2014 . Dedicated private automobiles as ambulances , trucks inmates , funeral vehicles will enjoy import tax rate of 0 % in the period. VAT rate of 5 % is applicable to other types of passenger cars as vehicles traveling on snow , golf carts and similar vehicles .

For goods vehicles , popular tax rates expected to apply is 5 % , which includes vehicles cistern , cement tank trucks , mud trucks , armored vehicles carrying goods moving worth a total load capacity of 24 tons or less . The conventional trucks , cars cistern , cement tank trucks , mud trucks have a maximum load of 24 tons , refrigerator trucks , waste collection vehicles compress waste parts are entitled to tax rate 0 % .

0 % tax rate also applies to some other type of car as rescue vehicles , crane trucks , fire trucks , concrete mixers , road sweepers , car projection X-ray ...

This tariff also specifies the tax rate for many types of components , auto parts imports from ASEAN countries with 0 % rate applies .

Besides cars and motorcycles , the tariff adjustment also reduced for thousands of other products imported from ASEAN and the countries participating in the agreement of free trade areas such as China , South Korea .

 

Source : Bloomberg

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