50% reduction in registration fee for domestically produced and assembled cars from July 1

June 28, 2023 15:55

The Government has just issued Decree 41/2023/ND-CP stipulating the registration fee for automobiles, trailers or semi-trailers pulled by automobiles and vehicles similar to automobiles manufactured and assembled domestically.

Chú thích ảnh

Passenger car assembly line at the factory of Truong Hai Auto Corporation (Thaco) in Chu Lai Open Economic Zone, Nui Thanh district, Quang Nam province

The Decree clearly states that from the effective date of this Decree (July 1, 2023) to December 31, 2023, the first registration fee for automobiles, trailers or semi-trailers pulled by automobiles and vehicles similar to automobiles manufactured and assembled domestically is equal to 50% of the fee prescribed in Decree No. 10/2022/ND-CP dated January 15, 2022 of the Government regulating registration fees; current resolutions of the People's Council or current decisions of the People's Committees of provinces and centrally run cities on local registration fee collection rates and amendments, supplements and replacements (if any).

From January 1, 2024 onwards, the registration fee collection rate will continue to be implemented according to the provisions of Decree No. 10/2022/ND-CP; current resolutions of the People's Council or current decisions of the People's Committees of provinces and centrally run cities on local registration fee collection rates and amendments, supplements and replacements (if any).

According to the Ministry of Finance, the domestic socio-economic situation has faced many difficulties and challenges since the beginning of the year, including the domestic automobile manufacturing and assembly industry. According to the Vietnam Automobile Manufacturers Association (VAMA), sales of this industry have declined, especially in the last months of 2022, showing unusual and worrying signs for businesses.

Sales in the last two months of 2022 alone have decreased sharply, and in particular, sales in January 2023 decreased by 44% compared to the same period last year and decreased by 51% compared to the previous month. Total sales of VAMA members up to the end of April 2023 decreased by 34% (about 42,000 vehicles) compared to the same period last year.

To contribute to stimulating consumption and removing difficulties for domestic automobile manufacturing and assembling enterprises, continuing to reduce registration fees for domestically manufactured and assembled automobiles is one of the necessary solutions.

According to VNA

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    50% reduction in registration fee for domestically produced and assembled cars from July 1