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Tariff cut considered for automobile imports from ASEAN
2011-1014
The Ministry of Finance is mulling over a draft on a tariff reduction schedule for automobiles imported from ASEAN countries, as part of the ASEAN Trade in Goods Agreement (ATIGA) during the 2012-2014 period.
According to the draft, an import tax rate of 70 per cent would be imposed on all Completed-Building-Unit passenger cars imported from ASEAN countries by 2012. The tax rate would be reduced by 60 per cent and 50 per cent by 2013 and 2014, respectively.
Special vehicles would enjoy a zero tax rate while trucks would face a 5 per cent tax rate during the next three years.
According to the draft, an import tax rate of 70 per cent would be imposed on all Completed-Building-Unit passenger cars imported from ASEAN countries by 2012. The tax rate would be reduced by 60 per cent and 50 per cent by 2013 and 2014, respectively.
Special vehicles would enjoy a zero tax rate while trucks would face a 5 per cent tax rate during the next three years.
Source: VNS
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