Question:
Our company plans to import used cars for resale in the domestic market. Therefore, we would like to inquire as follows: What types of taxes will import used cars be subject to, and what are the tax rates?
Answer:
– In the case where a business is permitted to import used cars into Vietnam, the tax policies applied are as follows:
– Import duties are implemented as specified in Article 7 of Decree No. 122/2016/ND-CP dated September 1, 2016, by the Government.
– Special Consumption Tax rates are implemented as stipulated in Article 2(1) of the Law amending and supplementing certain articles of the Law on Value Added Tax, the Law on Special Consumption Tax, and the Law on Tax Administration, Law No. 106/2016/QH13 dated April 6, 2016.
– Value Added Tax rates are implemented as specified in Article 11 of Circular No. 219/2013/TT-BTC dated December 31, 2013, by the Ministry of Finance.
