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Economic News

Last updated: Thursday, September 20, 2018

 

Import Tariff on Used Cars to Double in 2018

Posted: Friday, January 12, 2018

The Government recently issued Decree 125/2017/ND-CP amending and supplementing Decree 122/2016/ND-CP on export tariff, preferential import tariff, list of commodities and absolute tariff, mixed tariff, and non-quota import duty.

According to regulations, new import tax rates on used cars will be raised in line with WTO commitments, applied to passenger cars of less than 16 seats. Tax rates for used passenger cars of 16 seats or less will be kept unchanged.

Specifically, in Appendix III to Decree 125, the Government stipulates that the absolute tariff on passenger cars of nine seats or less (including the driver) with a cylinder capacity of 1,000cc or lower is US$10,000 per unit.

Complex tariff on passenger cars, SUVs and sports cars is 200 per cent or 150 per cent plus US$10,000, taking the lowest rate. The complex tariff on other vehicles classified as passenger cars (from nine seats downwards including the driver) with a cylinder capacity from 1,000cc to 2,500cc is US$10,000, and it is plus US$15,000 on vehicles of over 2,500cc. For vehicles of 10 - 15 seats (including the driver), the tax rate is the same as applied to new vehicles plus US$10,000 (vehicles of less than 2,500cc) and plus US$15,000 (vehicles of over 2,500cc).

Hien Phuc








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