Vietnam Imposes 90 per cent Import Tax on Heavy Motorcycles
The Ministry of Finance said Vietnam will impose a temporary import tax rate of 90 per cent on heavy motorcycles, the same as normal motorbikes, from August 2007 when it permits the penetration of such vehicles.
However, Vietnam will strictly control the import of heavy motorcycles as they are listed on sensitive commodities group, said the ministry.
The Ministry of Trade will issue import licenses while Ministry of Transport provides technical specifications.
Furthermore, only people aged between 30 and 40 are allowed to own and ride heavy vehicles, which have engine displacements of above 175cc, said the Ministry of Public Security.
Besides, imported vehicles are still levied 10 per cent VAT but are free from special consumption tax, said Quach Duc Phat, Director of Tax Policy Department under the Ministry of Finance.
A northern Haiphong city-based trader said the tax rate is acceptable but technical barriers will limit the import of powerful two-wheeler.
Bui Duy Thuc, branch director of Vietnam National Complete Equipment and Techniques Import-Export Corp. (TechnoImport), said his company has to reject import orders from customers due to unannounced technical barriers.
According to the General Statistics Office (GSO), Vietnam imported 44,000 motorbikes worth $57 million in the first 10 months of this year, up 28 per cent and 18 per cent on-year, respectively.
VnExpress
Vietnamese
