Nghe An: Registration tax revenue is expected to fall by 160 billion VND

(Baonghean.vn) - The car market is getting more and more frozen towards the end of the year, which is the reason why registration fees have dropped sharply. Among them, there are almost no high-value cars.

Illustration photo.

Revenue from registration fees is an important source of revenue for the city budget, but according to the report of Vinh Tax Department, in 2017, the car registration fee in the first 10 months of 2017 only reached 183.176 billion VND with 4,727 cars (in the same period in 2016, procedures were completed for 5,711 cars with the amount of 264.119 billion VND). There are no high-value cars this year, and businesses are not investing in new taxis, pickup trucks, passenger cars, etc.

It is expected that in 2017, the registration fee in Vinh city will reach 250 billion/plan 381 billion.

In the whole province, the registration fee is expected to reach 570 billion VND for the whole year, equal to 78% of the estimate (a shortfall of about 160 billion VND). The number of cars registered to pay registration fee is only 80% compared to the same period. The shortfall in registration fee revenue has caused a sharp decrease in tax revenue in many branches.

The reason the auto market is sluggish is because people are waiting for 2018 when the regulation to remove tariff quotas for cars will take effect./.

Pearl