Vietnam to slash import taxes for ASEAN-made vehicles
Saturday, December 28, 2013, 15:47 GMT+7
Beginning January 1, 2014, vehicles imported from 10 ASEAN countries to Vietnam will enjoy a tax cut ranging from 10-50 % following the ASEAN Trade in Goods Agreement (ATIGA).
Specifically, the tax rate for emergency cars and prisoner transport vehicles will range from 0 to 5%.
Following ATIGA, 4-seater to 9-seater cars imported from ASEAN countries to Vietnam will incur a tax of 50 % of the car’s value rather than the current 60%.
Trucks and other vehicles, depending on the type, will incur a new tax ranging from 0 to 50%.
Bicycle, motorcycle, and electric vehicle taxes will also decrease. Completely knocked down (CKD) cars will incur a tax from 0 to 50%.
Aircraft tax, which applies to airplanes and helicopters, will decrease to 0% starting from early 2014.
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Japanese luxury car brand Lexus has officially entered the Vietnam market with 5 models launched at its recently-opened Lexus Saigon Center in downtown Ho Chi Minh City. They include the $270,000 LS 460 L, one of the most expensive cars introduced at Vietnam Motor Show 2013 - the biggest annual expo for automobile industry – organized late October this year in Ho Chi Minh City’s District 7. Lexus Vietnam has also introduced GS 350, RX 350, LX 570 with retail prices ranging from VND2.57 billion ($120,800)to VND5.35 billion ($251,500). Representatives from the Japanese automaker said the construction of another official Lexus outlet in Hanoi is expected to be completed in the first half of 2014. |
