Transport

Vietnam to Halve Car Registration Fees: Tuoi Tre

October 28, 2021

Government expects increased value-added tax receipts due to higher demand for vehicles

VinFast — The new law aims to limit China's access to US tax credits, but it is not known if the Senate will amend the bill or pass it before the US election. This image shows VinFast's North Carolina factory, covering an area of 800 hectares. File photo: Reuters.

Vietnam‘s finance ministry said on Wednesday it would halve registration fees for domestically manufactured and assembled cars from November 15 to May 15 2022, Hanoi-based Tuoi Tre reported.

The move is designed to stimulate consumer demand and support local manufacturing.

The government also expects to boost value-added tax receipts due to the higher demand for vehicles.

Read the full report: Tuoi Tre

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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