The Ministry of Finance proposed to maintain the initial registration fee of 0% for battery-powered electric cars until February 28, 2027, which is 2 years longer than the current regulation.
The Ministry of Finance proposes to maintain the initial registration fee of 0% for battery-powered electric cars until February 28, 2027 - Photo: TL
Proposal to maintain registration fee for battery-powered electric cars until the end of February 2027
The Ministry of Finance is seeking comments from ministries and branches on the second draft of the decree amending and supplementing Decree No. 10/2022 on registration fees.
Accordingly, the Ministry of Finance proposed to maintain the initial registration fee at 0% for battery-powered electric cars until February 28, 2027, instead of February 28 this year as stipulated in Decree 10 in 2022.
Based on this proposal, the Ministry of Finance explained that the 0% registration fee for battery-powered electric cars applied for nearly 3 years has basically contributed to improving air quality and protecting the environment.
Promote production and consumption of environmentally friendly vehicles
Specifically, according to the Ministry of Finance, the benefits of this policy are very clear. As for consumers, this policy encourages people to use battery-powered electric cars due to reduced costs.
As for businesses, the policy of tax and fee exemption and reduction aims to promote investment in the production and use of battery-powered electric cars.
Enterprises can rest assured to stabilize production and business, expand production scale, invest in new machinery and equipment, modern technology, improve productivity, and promote consumption of environmentally friendly vehicles.
Continuing to apply a 0% registration fee for battery-powered electric cars contributes to the development of the market, the electric car industry and supporting industries, creating jobs, increasing income for workers and promoting economic growth.
Regarding the impact of this policy on budget revenue, the Ministry of Finance estimates a reduction in budget revenue of about VND 4,800 billion/year.
"In the first years of entering the market, the rate of first-time registration of battery-powered electric cars was quite high. However, up to now, the number of battery-powered electric cars entering the market has gradually stabilized.
Assuming the same number of battery-powered electric cars registered in 2024, if the 0% registration fee is applied to battery-powered electric cars from March 1 this year to February 28, 2027, the state budget revenue from registration fees will decrease by about VND4,800 billion/year," the Ministry of Finance informed.
Source: https://tuoitre.vn/o-to-dien-duoc-de-xuat-ap-le-phi-truoc-ba-0-them-2-nam-nua-20250217221945619.htm
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