This decision is detailed in the Ministry of Finance's report to the Government regarding the draft decree that modifies and supplements certain articles of on preferential import and export tax policies (MFN).
Toyota Vietnam had previously suggested adding several spare parts and components to the list eligible for the MFN tax rate of 0%.
However, the Ministry of Finance determined that only imported auto components that cannot be domestically produced should be eligible for this tax rate.
The components proposed by Toyota are considered basic types that are already being produced domestically. Regarding Ford Vietnam's proposal to reduce registered vehicle production, the Ministry of Finance's report stated that the Government did not approve the reduction. This requirement serves as a prerequisite for businesses to qualify for tax incentives.
