Taxes on New Trucks in Hanoi: A Comprehensive Guide

My friend Minh, who owns a small grocery store on Hang Buom Street, recently purchased a brand new Hyundai Mighty N250 truck. He was thrilled, telling me how much easier it would make transporting goods. But then he sighed, complaining about the complicated paperwork and, especially, the taxes and fees associated with buying a new truck.

In reality, Minh isn’t alone. Many people, especially first-time buyers, are overwhelmed by the taxes and fees when purchasing a new truck. So, what exactly are the taxes on a new truck? Let’s delve into the details with Hanoi Truck.

Taxes When Buying a New Truck

1. Special Consumption Tax (SCT)

This tax applies to specific goods and services, including trucks. The SCT rate for trucks is based on engine displacement, ranging from 0% to 15%.

For example, Minh’s Hyundai Mighty N250 has a 2,497cc engine, placing it in the 5% SCT bracket.

2. Value Added Tax (VAT)

The current VAT rate for trucks is 10%, calculated on the selling price inclusive of the SCT.

Referring back to Minh’s example, after adding the SCT, the truck’s price is X VND. Minh will then have to pay an additional 10% of X VND for VAT.

3. Registration Fee

For a truck to be legally operated, a registration fee must be paid. This fee is determined by each locality and typically ranges from 2% to 5% of the vehicle’s value. In Hanoi, the current registration fee for trucks is 2%.

4. Other Fees

Besides the three main taxes above, there are other fees associated with buying a new truck:

• License plate registration fee
• Vehicle inspection fee
• Compulsory civil liability insurance

Fee and Tax Schedule (Reference)

Important Considerations When Paying Taxes and Fees

• Thoroughly research the current tax and fee regulations to avoid confusion.
• Choose a reputable dealer for guidance and support with tax and fee procedures.
• Retain all relevant invoices and documents for smooth registration and future vehicle operation.

Frequently Asked Questions About Truck Taxes and Fees

1. Do I have to pay the registration fee if I buy a truck in installments?

Answer: Yes. Whether you purchase a truck outright or in installments, you must pay all applicable taxes and fees.

2. Do I have to pay the registration fee if I buy a used truck?

Answer: Yes. However, the registration fee for a used truck is lower than for a new one, depending on the year of manufacture and the vehicle’s condition.

3. What is the procedure for paying taxes and fees for a new truck?

Answer: You can pay taxes and fees directly at the Tax Department or online through the National Public Service Portal.

Buy Reliable, Quality Trucks at Hanoi Truck

With years of experience in the truck industry, Hanoi Truck proudly offers high-quality, genuine trucks from leading brands at competitive prices.

With Hanoi Truck, you can rest assured:

• Genuine products, diverse models from top brands like Hyundai, Hino, Isuzu, and more.
• Fast and transparent purchase process.
• Bank loan support up to 80% of the vehicle value.
• Professional and dedicated after-sales service.

Contact Hanoi Truck today for consultation and the best quote!

Address: [Street Number] [Street Name], [Ward/Commune], [District], Hanoi.

Hotline: [Phone Number]

Besides trucks, Hanoi Truck also offers a wide range of other vehicles such as:

• Dump trucks
• Tractor trucks
• Specialized vehicles

Feng Shui When Buying a Truck:

Vietnamese people believe that choosing an auspicious day to buy a truck will bring good luck and prosperity to their business. In addition, the color of the vehicle is also a factor that many people consider based on the five elements.

Hyundai N250 Truck

Truck Sales Consultant

We hope this article has provided you with useful information about taxes on new trucks. If you have any further questions, please leave a comment below or contact Hanoi Truck directly for assistance. We wish you the best in finding your ideal truck and achieving business success!