VietNamNet Bridge – If the automobile industry development plan is implemented as expected, cars would get much cheaper in just some years. The Ministry of Industry and Trade (MOIT) has confirmed that the automobile industry development plan by 2020 has got the concurrence from relevant ministries. Regarding the tax policy, a member of the plan compilation committee said 3 scenarios have been suggested. As for the first scenario, Vietnam would cut down the luxury tax and the car ownership registration tax by 30 percent on the domestically made cars with the cylinder capacity of less than 2.0L. The ministry has suggested the 50 percent and 70 percent tax on the strategic car lines in the second and third scenarios, respectively. Of these, relevant ministries and branches have expressed their agreement to the second scenario, which means that the five-seat car models with the cylinder capacity of less than 2.0L would see sharp tax reductions. Once the tax rates are lowered, people have every reason to hope that cars would get much cheaper. When asked about the plan implementation, the above said official said MOIT and the Ministry of Finance would still need to work out on the plan compilation before…
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