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Registration fee for domestically produced cars will be reduced by 50 percent: PM’s direction (Photo: SGGP) |
The Government Office has just issued a document on the registration fees for domestically manufactured and assembled cars.
Specifically, in consideration of the Ministry of Finance’s proposal registration fees for domestically manufactured and assembled automobiles and the Prime Minister’s direction, Deputy Prime Minister Le Minh Khai assigned the Ministry of Finance to liaise with relevant agencies in formulating a draft of the Government's decree on the registration fees for domestically manufactured and assembled automobiles as before.
The new registration fees will be applicable from July 1 to the end of 2023. The draft will be submitted to the Government before June 15.
At the request of the Deputy Prime Minister, the Ministry of Justice promptly appraised the above draft decree right after receiving the complete dossier from the Ministry of Finance, ensuring the deadline for submission to the Government.
The ministries of Finance and Justice take full responsibility before the Government and the Prime Minister for the quality and progress of the assigned tasks.
Previously, the Ministry of Industry and Trade proposed to reduce 50 percent of the registration fees as it said that enterprises in the domestic automobile manufacturing industry are facing high inventories while they hardly have access to capital and they are suffering high-interest rates, changes in exchange rates and inflation.
Automobile manufacturers belonging to the Vietnam Automobile Manufacturers Association (VAMA) and some provinces and cities also have petitions to the Ministry of Industry and Trade to reduce registration fees. The Ministry has also proposed the Government consider tax and registration fee reductions. In addition, the Ministry also suggested the extension and late payment of special consumption tax and value-added tax.
The Ministry of Finance reported that the support policy brought success last time to reduce the consumption tax as the budget revenue not only decreased but also increased to nearly VND2,000 billion.
