Automobile registration fees hiked
01-AUG-2008 Intellasia | Thoi Bao Kinh Te Vietnam
Aug 1, 2008 - 7:00:00 AM
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Prime minister on July 29 signed Decree No 80/2008/ND-CP modifying some regulations on registration fees.
Under it, the registration fee applied on below 9-seat tourism cars is 10-15%. Therefore, the 5% registration fee on other kinds of tourism cars in line with Decree No 47/2003/ND-CP dated May 12, 2003 was officially abolished.
Especially, kinds of below 9-seat tourism cars will not be applied the ceiling level of 500 million dong per unit any more. With the new decree, the higher value of imported car the higher registration fee.
According to the Decree 80, the initial registration fee on kinds of motorbike of individuals and institutions in the cities and towns where the people's committees' headquarters locate will be 5%. If the motorbikes are transferred to other institutions and individuals, the fee will be reduced to 1%.
All registration fees were proposed to the prime minister in the start of June 2008 by the finance ministry. And the increase in registration fee is one of measures to reduce automobile consumption, trade deficit and inflation ratio.
The decree will become law 15 days after publication in the Gazette.
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