Below is the proposed content of the 50% reduction in registration fees from August 1, 2024 to January 31, 2025 for domestically produced cars mentioned in the draft Decree.
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| Proposal to reduce 50% of registration fee from August 1, 2024 to January 31, 2025 for domestically produced cars. |
The Ministry of Finance has submitted a draft Decree regulating the registration fee for automobiles, trailers or semi-trailers pulled by automobiles and vehicles similar to domestically produced and assembled automobiles.
50% reduction in registration fee from August 1, 2024 to January 31, 2025 for domestically produced cars according to the draft Decree
According to the draft Decree, from August 1, 2024 to January 31, 2025:
The registration fee rate is equal to 50% of the rate prescribed in Decree 10/2022/ND-CP dated January 15, 2022 of the Government regulating registration fees; 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).
From February 1, 2025 onwards: The registration fee collection rate continues to be implemented according to the provisions of Decree 10/2022/ND-CP dated January 15, 2022 of the Government regulating registration fees; 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 collection rates and amendments, supplements and replacements (if any).
Thus, it is expected that from August 1, 2024, registration fees for domestically produced cars will be reduced for a period of 6 months until January 31, 2025. The above reduction in registration fees will have a positive impact on the domestic car market as well as consumers in the period of late 2024 and early 2025, as a solution to support finance and encourage consumption.
Previously, from July 1, 2023 to December 31, 2023, the Government issued Decree 41/2023/ND-CP reducing 50% of the first registration fee for cars, trailers or semi-trailers pulled by cars and vehicles similar to cars manufactured and assembled domestically according to Decree 10/2022/ND-CP. And from January 1, 2024, the registration fee collection rate will be implemented again according to the provisions of Decree 10/2022/ND-CP regulating registration fees; 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 collection rates and amendments, supplements and replacements (if any). |
Current registration fee level for domestically produced cars before reduction
The initial registration fee for automobiles, trailers or semi-trailers pulled by automobiles and vehicles similar to automobiles according to Clause 5, Article 8 of Decree 10/2022/ND-CP is as follows:
Cars, trailers or semi-trailers pulled by cars, vehicles similar to cars: The collection rate is 2%.
* Private:
- Passenger cars with 9 seats or less (including pick-up cars): pay the first registration fee at a rate of 10%.
In case it is necessary to apply a higher collection rate to suit the actual conditions in each locality, the People's Council of the province or centrally-run city shall decide to increase it, but not more than 50% of the general collection rate prescribed in Point a, Clause 5, Article 8 of Decree 10/2022/ND-CP.
- Pick-up trucks with a permitted load capacity of less than 950 kg and 5 seats or less, and VAN trucks with a permitted load capacity of less than 950 kg pay the first registration fee at a rate equal to 60% of the first registration fee for passenger cars with 9 seats or less.
- Battery powered electric cars:
+ Within 3 years from March 1, 2022: pay the first registration fee at a rate of 0%.
+ Within the next 2 years: pay the first registration fee at a rate equal to 50% of the fee for gasoline and diesel cars with the same number of seats.
Car types specified in Point a, Point b, Point c, Clause 5, Article 8, Decree 10/2022/ND-CP: pay registration fee from the second time onwards at a rate of 2% and apply uniformly nationwide.
Based on the type of vehicle stated in the Certificate of Technical Safety and Environmental Protection issued by the Vietnamese Registry, the tax authority shall determine the registration fee for automobiles, trailers or semi-trailers pulled by automobiles, and vehicles similar to automobiles as prescribed in Clause 5, Article 8 of Decree 10/2022/ND-CP.
Source: https://baoquocte.vn/de-xuat-giam-50-le-phi-truoc-ba-tu-182024-den-3112025-voi-o-to-san-xuat-trong-nuoc-276523.html
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