Additional price for calculating car registration fee: Some cars have to pay up to 2.6 billion VND

The Ministry of Finance has issued Decision No. 942/QD-BTC amending and supplementing the list of price lists for calculating registration fees for cars and motorbikes issued together with Circular No. 304/2016/TT-BTC.Accordingly, many types of cars pay registration fees of up to billions of dong.

Accordingly, the Ministry of Finance has added the registration fee calculation prices for 135 types of imported cars with 9 seats or less; 19 types of domestically assembled cars with 9 seats or less; 2 types of imported electric cars; 2 types of 4-wheeled cargo vehicles with engines manufactured and assembled domestically; 29 types of imported two-wheeled motorbikes and 127 types of domestically manufactured and assembled two-wheeled motorbikes.

McLaren 650S Spider model has a registration fee price of over 22 billion VND

The car that leads the list of additional prices for registration fees is the McLaren 650S Spider with a price of up to 22.02 billion VND. If the highest registration fee applied in Hanoi is calculated at 12%, the buyer of this supercar model may have to pay a registration fee of up to 2.64 billion VND.

Some other supercar models in the category of imported cars with 9 seats or less also have sky-high registration fees, including the Bentley Flying Spur with a price of 19.5 billion VND or the McLaren 570S with a price of 12.57 billion VND. These models can be charged registration fees of up to 2.34 billion VND and 1.5 billion VND, respectively.

Many car models only for the super rich are also listed in this category: Jaguar XJL Autobiography priced at over 11 billion VND, Range Rover SV Autobiography and Panamera Turbo Executive by Porsche priced at 11.4 billion VND; Porsche 911 GT3 priced at over 11 billion VND, S500 Maybach by Mercedes-Benz priced at approximately 11 billion VND...

Many domestically assembled 9-seat or less models were also added to the list this time, including Mercedes-Benz's C200K, E250, E200, E300 models (priced from over 1 billion to nearly 2.8 billion VND); Mazda's CX5 AT-2WD over 1 billion VND; Honda Civic 1.8L 5MT FD1; Toyota HIACE; Mazda 626...

In addition, Decision 942 also amends the registration fee calculation price of 27 types of imported cars with 9 seats or less; 3 types of domestically assembled cars with 9 seats or less; 3 types of imported 2-wheel motorbikes and 7 types of domestically produced and assembled 2-wheel motorbikes.

Some models in this category have very high registration fees, such as the Range Rover SV Autobiography by Land Rover, priced at VND15.6 billion; Range Rover Autobiography L, priced at VND11.75 billion.

In addition, other contents are still implemented according to Circular 304. Decision 942/QD-BTC officially takes effect from May 24, 2017.

According to the provisions of this Circular, the price list is amended and supplemented in case of arising of cars and motorbikes not specified in the price list issued by the Ministry of Finance or the actual transfer price of cars and motorbikes specified in the price list issued by the Ministry of Finance increases or decreases by 20% or more.

The price for calculating the registration fee for automobiles and motorbikes is specified in the price list issued with this Circular. In case the actual transfer price of automobiles and motorbikes on the market is lower than the price for calculating the registration fee issued by the Ministry of Finance, the price for calculating the registration fee is the price according to the price list issued by the Ministry of Finance currently in effect.

In case at the time of submitting a complete registration fee declaration dossier, the actual transfer price of cars and motorbikes on the market increases by 20% or more compared to the current price list in effect or the price for calculating the registration fee has not been specified in the price list issued by the Ministry of Finance, the tax authority shall base on the price for calculating the registration fee of the types of cars and motorbikes available in the price list and the instructions at Point a, Clause 3, Article 3 of Circular No. 301/2016/TT-BTC dated November 15, 2016 of the Minister of Finance to determine the price for calculating the registration fee according to regulations.

In case the types of cars and motorbikes are not specified in the price list issued by the Ministry of Finance, the Tax Department shall notify the Tax Branches of the registration fee calculation price applied uniformly in the area.

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