The Government Standing Committee agreed to reduce 50% of registration fees for domestically produced and assembled cars, effective within 3 months.
The Government Office has just announced the conclusion of the Government Standing Committee at the meeting on receiving and explaining the opinions of Government members on the draft decree regulating the collection level. registration fee for domestically produced and assembled cars.
Discount in 3 months
The meeting of the Government Standing Committee took place on August 15, chaired by Prime Minister Pham Minh Chinh, Deputy Prime Ministers and ministries including: Finance, Planning and Investment, Industry and Trade, Public Security, Natural Resources and Environment, and the Government Office.
Based on the report of the Ministry of Finance and the opinions at the meeting, the Government Standing Committee concluded: Agreed to reduce 50% of registration fees for domestically produced and assembled cars. This fee reduction will be implemented in 3 months, instead of 6 months as previously reported and consulted with the Government.
Accordingly, the Government Standing Committee assigned the Ministry of Finance to receive comments at the meeting, complete the content of receiving and explaining comments, and draft the decree to report to the Government no later than August 15; receive comments for the second time to submit to the Government for signing and promulgation before August 18.
The Government Office is assigned to urgently seek opinions from Government members on the decree. The Ministry of Industry and Trade shall preside over and coordinate with relevant ministries and branches to research and propose appropriate, feasible and effective policies to encourage production and use. tram In Vietnam, report to competent authorities in September 2024.
The Ministry of Construction shall preside over and coordinate with relevant ministries and branches to review legal regulations. From there, propose amendments and supplements to promptly resolve difficulties arising from the installation of electric charging stations/posts for vehicles at gas stations. This work will be reported to competent authorities in August 2024.
Registration fees have been reduced for 3 years
Previously, the policy was reduced by 50%. Registration fees were implemented to support the domestically produced and assembled automobile industry for 3 years 2020, 2022 and 2023. Each reduction in registration fees for domestically produced and assembled automobiles lasted for 6 months.
However, the Ministry of Planning and Investment, the Ministry of Justice, and the Ministry of Industry and Trade have expressed concerns about the violation of international commitments. Therefore, the Ministry of Finance specifically assessed the impact of a 50% reduction in tax rates. Registration fees for domestically produced and assembled cars, violations of international commitments and the proposed option of not reducing taxes.
In addition, to respond to violations of international commitments, the Ministry of Finance submitted to the Government to assign the Ministry of Industry and Trade to preside over and coordinate with relevant agencies to review and develop response plans in case Vietnam is sued for violating international commitments.
According to the assessment, the 50% reduction in registration fees for domestically produced and assembled cars has contributed to stimulate shopping for this product.
Specifically, in the last 6 months of 2020, the number of domestically manufactured and assembled cars registered for the first time was 209,584 vehicles. Thus, each month, on average, 34,930 domestically manufactured and assembled cars were registered for the first time, more than double the number in the first 6 months of 2020.
By 2022, the average number of domestically produced and assembled cars registered for the first time in the first 5 months of the year was 33,690 vehicles/month, 1.5 times higher than the average number of vehicles in the last 7 months of the year.
In the last 6 months of 2023, the number of domestically manufactured and assembled cars registered for the first time was 176,483 vehicles, an average of 29,413 vehicles/month, an increase of 1.6 times compared to the first 6 months of 2023.
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