Government proposes tax increase on high-cylinder automobiles

by VTV415 October 2015 Last updated at 09:22 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.

Top VND Exchange Rates

Auto-refesh 15m

USD

EUR

AUD
1 VND
Inverse:
0.00004
22,510.0
0.00004
25,226.0
0.00006
15,674.0

Mid-market rates: 2024-11-25 20:11 UTC