Automobile Registration Fee to Rise to 15%

Houses, automobiles, ships, motorcycles and other commodities will have a new registration fee, according to a draft circular on registration fee compiled by the Ministry of Finance.

 

Passenger cars with less than 10 seats will be subjected to 10- 15% of registration tax instead of 5% and 6 % at present. Provincial and municipal People’s Committee can use the fee frame of 10-15% to choose a suitable rate for their localities.

 

As for motorbikes, the fee applied in centrally governed provinces and cities is 5 %. In case of owners registering their assets and paying registration taxes in their residing localities, the applied fee is 1 %. In other localities, the rate of 2 % is applied to the first-time declared motorcycles and 1 % to the second or third-time declared motorbikes.

 

Registration tax on land and house will be maintained at 0.5 %. Exemptions are applied to houses of the poor and minority people, lands used for public purpose, motorised ships, etc.

 

The total registration tax amount applied to one asset will not exceed VND500 million, except passenger cars of 10 seats upwards and production workshops.