Business

Import tax on used cars to rise by 20 percent

Starting from April 28, import taxes on used cars of nine seats or less, with a cylinder capacity of less than 1,500cc, will increase by 20 percent compared to the exiting rate.
Starting from April 28, import taxes on used cars of nine seats or less,with a cylinder capacity of less than 1,500cc, will increase by 20percent compared to the exiting rate.

According to a new decreeissued by the Ministry of Finance, the import tax imposed on used carswith a cylinder, capacity of less than 1,000cc will be 4,200 USD a unitinstead of 3,500 USD currently.

The tax is 9,600 USD for each used car with a cylinder capacity of 1,000-1,500cc, up 1,600 USD from the current level.-VNA
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