Government proposes tax increase on high-cylinder automobiles

by VTV414 October 2015 Last updated at 11:16 AM

VTV.vn - The government has submitted a proposal to re-adjust consumption taxes for automobiles from July 2016 onwards.

If passed, cars with cylinders lower than 3,000 cubic meters will receive tax cuts. Meanwhile, taxes on high-cylinder vehicles with over 3,000 cubic meters will increase to between 90 and 160%, as opposed to the current rate of 60%. According to the government, these vechicles will experience higher taxes because of their large size and high petrol consumption, deemed unsuitable for citizens’ incomes.

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