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.
Domestic auto sales have increased by 10 percent year on year, totalling 10,031 units in September, according to the Vietnam Automobile Manufacturers’ Association (VAMA).
Sales of sedans by members of the Vietnam Automobile Manufacturers Association (VAMA) continued to go up in September following the strong rise in two previous months.
Automakers in the country certainly have a sigh of huge relief after the Ministry of Finance in a new decision spared them of trillions of Vietnam dong in payable tax owing to the recalculation of tax rates for auto components.
The HCMC Tax Bureau is still indecisive over whether to charge a 2% tax rate for registration of pickup trucks under a now-invalid regulation, or to slap a 10% rate under a new rule that has not yet taken effect. Therefore, truck buyers are simply told to wait.
According to Euro Auto BMW’s marketing director Nguyen Dang Thao, a year’s last four months often contributed a big chunk of auto firms’ full-year revenue.