New tax rates on second-hand cars
The Customs Department in Vietnam has begun to implement new tax rates on second-hand cars imported into Vietnam on all the country’s border crossings since August 15, as per the Prime Minister’s directives.
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| New tax rates will be applicable on second-hand car imports from August 15 |
Under the directive, vehicles of less than 9 person capacity and less than 1,000 cc will be liable for import tariff of $3,500 per car. Tax will increase from $7,000 to $8,000 on vehicles of 1,000 cc to 1,500 cc.
On vehicles of 10 to 15 person capacity and less than 2,000 cc, tax will be $9,500; on 3,000cc it will be $13,000 and for over 3,000cc it will be $17,000.
The Ministry of Finance can adjust new tax rates on second-hand cars by up to 20 per cent, for any adjustments above 20 per cent, the ministry must refer to the Prime Minister’s office.
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