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

From July 1, 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 be reduced from the current 45% to 40% from July 1, 2016, and reduced to 35% from January 1, 2018; cars with cylinder capacity above 1.5 - 2.0 will be reduced 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