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New regulation on special consumption tax for cars to take effect

by VTV402 November 2015 Last updated at 09:24 AM

VTV.vn - The Prime Minister has just signed Decree 108 mandating regulations of the amended Law on Special Consumption Tax.

The Decree changes the way declared dutiable value is determined. The declared dutiable value for imported cars with fewer than 24 seats is generally set at the sale price. However, it cannot be lower than 105% of the cost of importation or the value will be determined by tax departments.

The Government is also submitting new tax laws to the National Assembly, which will decrease the special consumption tax of small imported cars by half. Decree 108 will take effect starting next year.

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