Automobile components import tax set to be raised

Import tax on automobile components will increase by 5-10 percent from May 20, said the Ministry of Finance. The tax was previously raised by 3-5 percent on April 20.

Some members from the Vietnam Automobile Manufacturers Association (VAMA) said that they are considering raising automobile price. Ford Vietnam increased prices of the Transit, Everest and Ford Focus 2.0 AT by 350-500 USD a car. Vidamco added 200-2,300 USD for each car model. Toyota Vietnam announced a 100-700 USD increase on each car.

Previously, the Ministry of Finance raised the import tax on used cars. Tax on cars with cylinder capacity of 2-3 liters will be raised by 3,500 USD a car (from 13,500 USD to 17,000 USD). Small cars with cylinder capacity of 1.5-2 liters and 2.5-3 liters will suffer an increase of 3,000 USD a car.

The current tax on luxury and super-luxury cars with cylinder capacity above 4 liters will remain unchanged. (Tuoi Tre)