From July 1, tax on imported cars will be sharply reduced

From July 1, the special consumption tax on cars will change dramatically. Tax on small capacity cars will decrease sharply, while it will increase on large capacity cars.

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Specifically, the special consumption tax on imported cars with 9 seats or less, with a cylinder capacity of 1,500 cm3 (1.5) or less will decrease from the current 45% to 40% from July 1, 2016, and to 35% from January 1, 2018; cars with cylinder capacity above 1.5 - 2.0 will decrease to 40% from January 1, 2018; cars with cylinder capacity above 2.0 - 2.5 will remain at 50%.

For vehicles with cylinder capacity above 2.5 - 3.0, special consumption tax will increase from the current rate of 50% to 55% from July 1, 2016, and increase to 60% from January 1, 2018; vehicles with cylinder capacity from 3.0 up to 6.0 will have tax rates from 90-150% from July 1.

This is the new tax rate just passed by the National Assembly in the Law amending and supplementing a number of articles of tax laws.

According to Tienphong.vn