Next weekend, registration fees may be reduced by 50%

In the draft decree, the Ministry of Finance proposed that the registration fee rate be equal to 50% of the rate prescribed in Decree No. 10/2022/ND-CP of the Government regulating registration fees and current Resolutions of the People's Council, or current Decisions of the People's Committees of provinces and centrally run cities on local registration fee rates and amendments, supplements and replacements (if any).

The expected application period is in the last 6 months of this year, from July 1 to December 31. Thus, if this project is approved, then from the end of next week (July 1), the registration fee can be reduced by 50%.

The Ministry of Finance has officially submitted to the Government a draft Decree on 50% registration fee for domestically produced and assembled cars. (Photo: CM)

It is estimated that the 50% reduction in registration fees for domestically produced cars in the last 6 months of the year will reduce the budget revenue by 8,000 - 9,000 billion VND. This policy contributes to stimulating people's demand for cars, helping manufacturers and distributors of domestically produced and assembled cars overcome difficult times.

The 50% reduction in registration fees for domestically produced and assembled cars is expected to increase the number of cars sold and increase special consumption tax and value added tax. There are 8 localities that will benefit from the increase in revenue from these two taxes, including: Vinh Phuc, Hai Duong, Hai Phong, Ninh Binh, Da Nang, Quang Nam, Binh Duong, and Ho Chi Minh City. These are localities with domestic car manufacturing and assembly companies.

With the task assigned to appraise the draft, the Ministry of Justice requested the Ministry of Finance to carefully review Vietnam's commitments in relevant international treaties to which Vietnam is a member and report to the Government for consideration and decision. In addition, the Ministry of Justice requested the drafting agency to prepare plans and arguments in case of international complaints or lawsuits.

Explaining this issue, the Ministry of Finance said that in reality, the possibility of Vietnam being sued is not high and Vietnam has not received any comments or objections from WTO members or trade partners in the commitments that Vietnam has participated in.

Source: https://www.congluan.vn/cuoi-tuan-sau-co-the-le-phi-truoc-ba-giam-50-post252681.html