Under current regulations, buyers of imported cars have to pay registration fees of 10-12 per cent The European Chamber of Commerce (EuroCham) noted in its newly-released Whitebook on the year’s investment issues affecting the business community that, “Currently, buyers of cars with less than nine seats in Vietnam are subject to a 10 per cent registration fee, or 12 per cent for residents of Hanoi. With the decision to reduce registration fee, buyers of domestically-manufactured and assembled vehicles will only have to pay a fee of 5-6 per cent. Those who buy cars imported from abroad still have to pay registration fees of 10-12 per cent, depending on the locality.” It added that “with domestic car companies in joint ventures, only two European brands out of 19 imported in Vietnam will benefits on their locally-assembled models.” However, according to the Vietnam Automobile Manufacturers’ Association, the temporary 50 per cent cut in registration fees for locally-assembled cars starting from June 26 and lasting until the end of the year aims to encourage domestic production. If applied to imported cars, the preferential policy will no longer be meaningful. Moreover, not only luxury cars from Europe but also cars from some ASEAN countries… Read full this story
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