4 expressways have reduced fares from today

Starting today (July 1), Vietnam Expressway Corporation (VEC) will adjust toll prices at toll stations (including VAT from 10% down to 8%).

This adjustment is applied to 4 expressways: Noi Bai - Lao Cai, Cau Gie - Ninh Binh, Da Nang - Quang Ngai, Ho Chi Minh City - Long Thanh - Dau Giay.

Accordingly, ticket prices will be reduced when applying the 8% VAT rate to road service prices at toll stations of VEC projects.

Specifically: Noi Bai - Lao Cai Expressway has the highest reduction corresponding to the distance from Km6 to IC12 intersection of 22,000 VND, the lowest reduction from Km6 to IC3 intersection of 1,000 VND.

Similarly, the Cau Gie - Ninh Binh expressway has the highest reduction of 3,800 VND, the lowest is 1,000 VND. The Da Nang - Quang Ngai expressway has the highest reduction of 14,000 VND, the lowest is 1,000 VND.

Ho Chi Minh City - Long Thanh - Dau Giay Expressway, the highest reduction is 7,000, the lowest reduction is 1,000 VND.

Noi Bai-Lao Cai Expressway Toll Station (Photo: Hoang Ha)

Regarding the general reduction of ticket prices at BOT toll stations nationwide, the Vietnam Road Administration said that it has issued a document requesting BOT investors and toll service providers to prepare the necessary work for implementing the collection of road service fees with reduced value-added tax in ticket prices according to regulations.

Along with that, the Department also has a document guiding BOT investors on how to determine specific prices after applying the 8% VAT rate to ticket prices at toll stations.

Currently, the collection of road service fees at toll stations has applied the automatic electronic form without stopping. The Department has requested BOT investors to update the tax-reduced price into the system.

According to the Department, in principle, applying the 8% VAT rate as prescribed in ticket prices does not reduce revenue (revenue after paying value added tax) of BOT projects.

The Department also informed that the price of road services at toll stations managed by the Ministry of Transport when applying the 8% VAT rate to the ticket price will create a new ticket price with odd amounts down to the unit of dong.

This reduction is stipulated in Decree No. 44 dated June 30, 2023 of the Government regulating the policy of reducing value added tax according to Resolution No. 101/2023 dated June 24, 2023 of the National Assembly.

Accordingly, from July 1, VAT will be reduced by 2%, applied to groups of goods and services currently subject to a tax rate of 10% (to 8%), except for some groups of goods and services.

(Source: Vietnamnet)

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