Locally-made and assembled automobiles will officially see a 50 per cent cut in registration fees from June 28 to December 31, 2020 to boost spending appetite across the nation and encourage buyers to "go local".
|All units of the Hanoi Tax Department are fully updated on the reduction in registration fees for automobiles |
The prime minister on June 28 signed Decree No.70/2020/ND-CP regulating registration fees for automobiles manufactured and assembled locally. Accordingly, the registration fee ruled in Decree No. 20/2019/ND-CP dated February 21, 2019 will be halved for locally-produced and assembled vehicles.
The registration fee will be back to the way it was from January 1, 2021.
As requested by the Ministry of Finance, the General Department of Taxation and the Hanoi Tax Department have made this information available on their websites. Also on June 29, 2020, the Hanoi Tax Department offered documents guiding the reduction of the registration fee in line with Decree 70, sending it to all of its units, thus further facilitating locals and businesses.