Vietnam Hikes Registration Fees for Under-10-Seat Cars to 10-15 per cent

Registration fees for under-10-seat cars will be raised to 10 per cent-15 per cent from current 5 per cent of the purchase price as of today nationwide once the Decree No. 80/2008/NNÄ-CP of the government came into effect, local state media reported.

 

The decree is expected to limit individuals and organizations buying luxury goods in an effort to keep the inflation rate in check and reduce import surplus.

 

Luong Phu Son from the Hanoi Department of Taxation said that the decree also aims to ease traffic jams and increase revenues for the State.

 

The Decree 80 stipulates that local people’s councils will decide the application of the new registration fees for cars in accordance with the actual situation in each locality.

 

When the decree is issued, the General Department of Taxation and the Hanoi Tax Department will issue instructions to affiliated units with detailed guidelines of administrative formalities to facilitate the registration process for individuals and organizations and ensure the legal interests of taxpayers. (Local sources)