When Will Import Taxes on Trucks Decrease in Vietnam?

Mr. Ba, the owner of a small grocery store on Hang Buom Street, has long dreamt of owning a small truck to facilitate the transportation of goods. Each time he sees shiny trucks passing by his store, he sighs in despair thinking about the exorbitant prices due to high import taxes on vehicles. “When will import taxes on cars decrease so that people like me can reach our dream of owning one?” he wonders.

Mr. Ba’s story reflects the common desire of many Vietnamese consumers. The dream of owning a car, especially a truck – the “bread and butter” for many families – remains distant due to high vehicle prices caused by import taxes.

So, when will import taxes on vehicles decrease? This article will provide the latest information on this issue.

Vehicle Import Taxes and Their Impact on the Truck Market

What are Vehicle Import Taxes?

Vehicle import taxes are levies that businesses must pay when importing whole vehicles or parts from abroad into Vietnam. The tax rate depends on several factors such as origin, engine displacement, and vehicle type.

Impact of Vehicle Import Taxes on the Truck Market

High import taxes are one of the reasons why truck prices in Vietnam are much higher than in other countries in the region. This makes it difficult for many consumers, especially small and medium-sized businesses, to access trucks, affecting their business efficiency.

When Will Vehicle Import Taxes Decrease?

Currently, there has been no official announcement regarding a decrease in vehicle import taxes. However, according to experts, reducing import taxes on vehicles is an inevitable trend for international economic integration.

Economist Nguyen Van A stated: “Reducing vehicle import taxes will enable people to access high-quality vehicles at more reasonable prices, thereby promoting the development of the automobile market.” (According to the book “Vietnam Automobile Market: Current Situation and Prospects”)

Factors That May Affect Tax Reduction

• Free Trade Agreements: Vietnam is participating in many Free Trade Agreements (FTAs), which include commitments to reduce import taxes on vehicles.
• Domestic Automobile Industry Development Policies: Vietnam is encouraging the development of the domestic automobile industry. However, the supporting industry remains weak and cannot meet market demand.
• Socio-economic Situation: The socio-economic situation also influences the government’s decision to reduce taxes.

Truck carrying goods

Frequently Asked Questions about Vehicle Import Taxes

When Will Vehicle Import Taxes Reach 0%?

According to the tariff reduction roadmap within the framework of the ASEAN Free Trade Agreement (AFTA), import taxes on completely built-up vehicles from ASEAN countries to Vietnam will reach 0% in 2025.

Will Reducing Import Taxes Actually Reduce Vehicle Prices?

Reducing import taxes on vehicles will contribute to lower vehicle prices. However, vehicle prices also depend on other factors such as transportation costs, exchange rates, and vehicle manufacturer policies.

Where to Buy Reliable Trucks in Hanoi?

If you are looking for a reputable place to buy trucks in Hanoi, come to Xe Tai Ha Noi. We offer a wide range of trucks from famous brands with competitive prices and excellent after-sales service.

Address: [Store address in Hanoi]

Hotline: [Phone number]

Website: [Website address]

Popular Truck Models at Xe Tai Ha Noi

• Hyundai Trucks: High-quality, durable, fuel-efficient trucks suitable for various transportation needs.
• Isuzu Trucks: Japanese trucks renowned for their powerful engines, stable operation, and minimal breakdowns.
• Hino Trucks: Heavy-duty and super heavy-duty trucks that meet the needs of transporting large quantities of goods.

Truck repair garage

Conclusion

Reducing import taxes on vehicles is the desire of consumers and an inevitable trend. Hopefully, in the near future, Vietnamese consumers will have the opportunity to own high-quality trucks at more reasonable prices.

Stay updated on the latest information about vehicle import taxes and the Vietnamese truck market by visiting xetaihanoi.edu.vn.