Several new economic policies came into effect in March.

From March 2025, many new policies and laws related to the economic sector will officially come into effect, including regulations on vehicle registration fees for electric cars, rice exports, corporate tax management, and anti-dumping duties on imported steel, etc.

From March 1st, battery-powered electric cars will no longer be exempt from registration fees.

According to Decree 10/2022/ND-CP issued on January 15, 2022, regulating registration fees, effective from March 1, 2022; the preferential registration fee rate for battery-powered electric vehicles is 0% for 3 years, applicable from March 1, 2022, to February 28, 2025. However, from March 1, 2025, to February 28, 2027, the registration fee for these vehicles will be 50% compared to gasoline or diesel vehicles.

Therefore, from March 2025, electric cars will no longer be completely exempt from registration fees as before.

Currently, the vehicle registration tax for first-time registrations in Vietnam ranges from 10% to 12%, depending on the locality. This means that buyers of battery-powered electric vehicles from March 1, 2025, will have to pay a registration tax of approximately 5-6%, depending on the province or city where the vehicle is registered, instead of being completely exempt as before.

With this change, the on-the-road cost of electric vehicles will increase compared to before. For example, if an electric vehicle model has a list price of 1 billion VND, the new registration fee will be around 50-60 million VND, depending on whether the locality applies a registration fee rate of 10% or 12%.

New regulations on rice exports will be applied from March 1, 2025.

From March 1, 2025, Decree 01/2025/ND-CP, issued on January 1, 2025, amending and supplementing a number of articles of Government Decree No. 107/2018/ND-CP dated August 15, 2018, on rice export business, will come into effect.

Accordingly, regarding the right to conduct rice export business, Decree No. 01/2025/ND-CP adds the following regulation: Traders holding a Certificate of Eligibility for Rice Export Business are only allowed to entrust the export of rice to other traders holding a Certificate of Eligibility for Rice Export Business.

Regarding the responsibilities of rice export businesses, according to Clause 3, Article 24 of Decree No. 107/2018/ND-CP, it is stipulated that: Every Thursday, rice export businesses must report to the Ministry of Industry and Trade on the actual amount of paddy and rice in their inventory, categorized by specific types, for data compilation to support management activities.

Decree No. 01/2025/ND-CP stipulates that: Periodically, before the 5th of each month, rice export businesses must report to the Ministry of Industry and Trade and the Department of Industry and Trade where the business has its head office, warehouse, milling or processing facility, and simultaneously send a copy to the Vietnam Food Association, detailing the actual amount of paddy and rice in stock by specific type, for data compilation to support management.

At the same time, Decree No. 01/2025/ND-CP abolishes Clause 6, Article 24 of Decree No. 107/2018/ND-CP: "Traders who report false information or fail to comply with the reporting requirements stipulated in this Article shall not be entitled to the preferential policies stipulated in Clause 2, Article 16 of this Decree until the trader ceases or rectifies the violation."

From March 1st, stricter management of mineral exploitation will be implemented.

According to Decree 10/2025/ND-CP issued on January 11, 2025, amending and supplementing a number of articles of decrees in the field of minerals, from March 1, 2025, the Government will strengthen measures to monitor mineral exploitation activities to ensure sustainable exploitation and environmental protection.

Specifically, according to the new regulations, permits for sand and gravel mining in riverbeds must include information on the permitted operating hours during the day, from 5:00 AM to 7:00 PM; and regulations on the mining period throughout the year. (According to the old regulations in Decree No. 23/2020/ND-CP, the mining time frame was from 7:00 AM to 5:00 PM, and nighttime mining was prohibited).

Based on geographical location, climate, weather, and hydrological conditions, the provincial People's Committee shall decide on the specific exploitation time for each license and registration dossier, but not exceeding the time frame stipulated above.

Decree No. 10/2025/ND-CP also amends and supplements point a, clause 1, Article 10 of Decree No. 23/2020/ND-CP on riverbed sand and gravel collection points and yards. Specifically, the sand and gravel storage areas must be located within the boundaries of inland waterway ports and inland waterway terminals as stipulated in the Law on Inland Waterway Traffic.

From March 8th, anti-dumping duties will be applied to steel imported from China and India.

According to Decision 460/QD-BCT issued on February 21, 2025, regarding the application of provisional anti-dumping duties on certain hot-rolled steel products originating from India and China, from March 8, 2025, the Ministry of Industry and Trade will apply provisional anti-dumping duties to certain hot-rolled steel imported from China and India.

Products subject to provisional anti-dumping duties are classified under HS codes 7208.25.00, 7208.26.00, 7208.27.19, 7208.27.99, 7208.36.00, 7208.37.00, 7208.38.00, 7208.39.20, 7208.39.40, 7208.39.90, 7208.51.00, 7208.52.00, 7208.53.00, 7208.54.90, 7208.90.90, 7211.14.15, 7211.14.16, 7211.14.19, 7211.19.13. 7211.19.19, 7211.90.12, 7211.90.19, 7225.30.90, 7225.40.90, 7225.99.90, 7226.91.10, 7226.91.90 (case code: AD20).

From March 27th, changes will be implemented regarding tax management for businesses with related-party transactions.

Decree 20/2025/ND-CP, issued on February 10, 2025, amends and supplements several articles of Decree 132/2020/ND-CP dated November 5, 2020, of the Government, which regulates tax management for enterprises with related-party transactions. A notable change from March 27, 2025, is that loans from banks are no longer considered related-party transactions.

Previously, businesses borrowing from banks related to their parent or subsidiary companies were still required to declare related-party transactions according to regulations, causing many difficulties in tax procedures. This adjustment helps businesses reduce the burden of declaration and makes it more transparent in determining transaction prices.../.