(PLO)- Car imports continue to be extended the tax rate to zero for another 5 years from December 31, 2022 to December 31, 2027.
On December 30, 2022, the Government issued Decree 126/2022 stipulating the special preferential import tariff in Vietnam through the ASEAN Trade in Goods Agreement (ATIGA) for the period 2022 – 2027.
According to Article 4 of this Decree and the attached appendix that stipulates the conditions for applying special preferential import tax rates (referred to as enjoying the ATIGA tax rates), the tax-exempt car models will originate from countries such as: is a member of the ATIGA Agreement, which includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore and Thailand.
Along with that, cars must meet the regulations on origin of goods (including regulations on direct transportation), have a certificate of origin (C/O) form D or have a certificate of origin (C/O) form D. certification of origin of goods in accordance with the provisions of the ASEAN Trade in Goods Agreement and current regulations of law.
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Cars imported into Vietnam market are mainly from Thailand and Indonesia. |
According to the Agreement on Trade in Goods within ASEAN (ATIGA), the enjoyment of zero tax rate of automobiles continues to be extended for another 5 years from December 31, 2022 to December 31, 2027.
Previously, CBU cars imported within ASEAN, the import tax exemption for cars of 10 ASEAN member countries has been implemented for 5 years (from January 1, 2018 to December 31, 2022). , according to Decree 156/2017). However, to enjoy 0% import tax, cars manufactured in 11 ASEAN member countries must achieve a localization rate of over 40%.
In the period from 2018 to 2022, the application of the Intra-ASEAN Trade in Goods Agreement (ATIGA) has paved the way for many types of cars from Thailand and Indonesia to enter Vietnam, accounting for 30-35%. total volume of automobiles consumed each year in Vietnam. Automobile assemblers in Vietnam such as THACO also benefit from exporting cars to markets in Southeast Asia.
In 2022, Indonesia and Thailand are the two largest automobile import markets of Vietnam. Notably, cars imported from Indonesia have surpassed Thailand in terms of vehicle volume compared to 2021. Specifically, Vietnam imported 72,671 vehicles from Indonesia, with an import turnover of more than 1.05 billion USD; while Thailand’s result is 72,032 vehicles, import turnover is 1.43 billion USD.
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THY BUT
