The Ministry of Finance is seeking comments on the draft decree of the Government on the level of registration fee for domestically produced and assembled cars. In the draft, the Ministry of Finance submits to the Government the regulation on the level of first registration fee for domestically produced and assembled cars as below.
From the effective date of the Decree until January 31, 2025: the registration fee is 50% of the fee prescribed in Decree No. 10/2022/ND-CP dated January 15, 2022 of the Government regulating registration fees and current resolutions of the People's Council or current decisions of the People's Committee of the province or centrally-run city on the local registration fee and amendments, supplements and replacements (if any).
In the period 2020 - 2023, the registration fee for domestically produced and assembled cars will be reduced by up to 50% 3 times, each reduction lasts for about 6 months.
From February 1, 2025 onwards: the registration fee collection rate will continue to be implemented according to the provisions of Decree No. 10/2022/ND-CP and current resolutions of the People's Council or current decisions of the People's Committee of the province or centrally-run city on the registration fee collection rate in the locality. This Decree takes effect from August 1 to January 31, 2025.
According to the Ministry of Finance, entering early 2024, automobile manufacturing and assembly enterprises in particular and the entire economy in general continue to face many difficulties and challenges from both domestic and foreign factors.
Besides, inflationary pressure, exchange rates, high gold prices... affect consumer psychology, leading to a trend of tightening spending on high-value items, including cars.
In 2024, while the output and sales of domestically manufactured and assembled cars continuously decreased, the number of imported cars increased rapidly.
Since the beginning of this year, many imported car models have received strong incentives and deep discounts from distributors, helping to increase sales and significantly narrow the gap compared to domestically produced cars.
The Ministry of Finance also mentioned that Vietnam has signed 17 free trade agreements (FTAs), many of which commit to reducing import tax on completely built-up cars to 0%. Implementing these commitments will put pressure on imported cars with high quality, high technology, and competitive prices compared to domestically produced and assembled cars.
To contribute to stimulating consumption, providing financial support to people and businesses, and creating momentum to restore growth for the domestic automobile manufacturing and assembly industry in the context of many economic difficulties and challenges, the Ministry of Finance believes that continuing to reduce registration fees for domestically produced and assembled cars is one of the necessary solutions.
To support economic development, from 2020 to 2023, the Ministry of Finance has developed and submitted to the Government and the National Assembly many policies to reduce, extend, and postpone many types of taxes, fees, and land rents for people and businesses.
In particular, the registration fee collection rate is regulated to reduce the fee in 3 decrees (Decree No. 70/2020/ND-CP, Decree No. 103/2021/ND-CP, Decree No. 41/2023/ND-CP) reducing the registration fee collection rate for domestically manufactured and assembled cars with a reduction of up to 50%, each reduction lasts for about 6 months.
From January 1, 2024, the registration fee for domestically manufactured and assembled cars will be implemented according to Decree No. 10/2022/ND-CP. Accordingly, the registration fee for domestically manufactured and assembled cars will be the same as the registration fee for cars of the same type.
Source: https://thanhnien.vn/de-xuat-giam-50-le-phi-truoc-ba-voi-o-to-den-het-3112025-185240625220729331.htm
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