ASEAN KEY DESTINATIONS
Vietnam considers auto tariff drop
The Vietnamese Ministry of Finance is considering 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 percent would be imposed on all Completed-Building-Unit passenger cars imported from Asean countries by 2012. The tax rate would be reduced by 60 percent and 50 percent 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.
An import tax rate of 75 percent would also be imposed on motorbikes and electrical bikes by 2012. The rates would be slashed by 60 percent and 50 percent by 2013 and 2014.
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