The Ministry of Finance plans to slash import taxes on brand new, fully assembled trucks as of January 1, 2011.
According to the ministry’s draft, tariffs will be cut from 70 percent to 30 percent for under five-ton trucks, from 50 percent to 25 percent for over five to ten-ton trucks and for over 10 to 20-ton trucks.
These tariffs will be 10-15 percent lower than those imposed on CKD (complete knock-down) trucks, and 50 percent lower than those to be applied in 2018 under ASEAN and WTO agreements.
