Vietnamese Deputy Minister of Finance Do Hoang Anh Tuan has signed and issued Circular 28/2013/TT-BTC, which has substantially raised, by 20%, the import tariffs on used cars with effect from April 29, 2013.

The import tariff on used cars of nine seats or less, and an engine size of less than 1,500cc will increase from USD3,500 to USD4,200, and the tax on imports of cars with engines between 1,000cc and 1,500cc will rise to USD9,600 from USD8,000.

The tariff hike has narrowed the gap in tariffs between imports of new and used cars, which the ministry claimed had been causing some new cars, especially smaller vehicles, to be improperly imported into Vietnam as used cars.

March 27, 2013

Source: Tax News

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