2023 Guide to Importing Cars into Vietnam: Calculate Import Taxes

“Importing a car? Worried about taxes?” This is a common concern for anyone looking to purchase a new vehicle from abroad. But do you really understand how import taxes on new cars are calculated? Don’t worry, XE TẢI HÀ NỘI will answer all your questions in this comprehensive guide.

What are Import Taxes on New Cars?

Import taxes on new cars are fees that individuals and organizations must pay when importing new vehicles into Vietnam. These taxes are calculated based on various factors, including the type of vehicle, engine displacement, and country of origin.

Calculating Import Taxes on New Cars in 2023

Let’s use a specific example to illustrate the process. Mr. Minh from Cau Giay, Hanoi, wants to import a Toyota Hilux from Thailand. He found that the price of the Hilux in Thailand is 500 million VND.

Step 1: Determine the Preferential Import Tax Rate

Since the car is imported from Thailand, Mr. Minh benefits from a preferential import tax rate of 0%.

Step 2: Calculate the Import Tax

Import Tax = Car Price Preferential Import Tax Rate = 500,000,000 0% = 0 VND

Step 3: Calculate the Special Consumption Tax

Assuming Mr. Minh’s car has a 2.5L engine, the applicable special consumption tax rate is 60%.

Special Consumption Tax = Car Price Special Consumption Tax Rate = 500,000,000 60% = 300,000,000 VND.

Step 4: Calculate the Value Added Tax (VAT)

VAT = (Car Price + Import Tax + Special Consumption Tax) VAT Rate = (500,000,000 + 0 + 300,000,000) 10% = 80,000,000 VND.

Step 5: Calculate the Total Tax Payable

Total Tax = Import Tax + Special Consumption Tax + VAT = 0 + 300,000,000 + 80,000,000 = 380,000,000 VND

Therefore, the total tax Mr. Minh must pay to import the Toyota Hilux into Vietnam is 380 million VND.

2023 Import Tax Rates for New Cars (Reference)

Important Notes on Calculating Import Taxes

• The table above is for reference only. Actual tax rates may vary depending on government policies.
• In addition to the taxes mentioned above, car owners must also pay other fees such as registration fees, inspection fees, and insurance fees.

Frequently Asked Questions about Import Taxes on New Cars

1. Do import taxes on new cars change annually?

Answer: Yes. Import taxes on new cars can change annually depending on government policies.

2. How can I find out the exact import tax rate for a new car?

Answer: To determine the exact import tax rate, you should contact the customs authorities or reputable car importers for advice.

3. What should I keep in mind about taxes when buying an imported car on installment?

Answer: When buying an imported car on installment, you should carefully consider the loan interest rate, loan term, and monthly payments to avoid incurring unnecessary costs.

Where to Buy Trucks with Installment Plans?

If you are looking to buy a truck with an installment plan, come to XE TẢI HÀ NỘI – The leading provider of genuine, high-quality trucks at competitive prices.

Contact Information:

• Address: No. 1 Nguyen Van Linh, Long Bien District, Hanoi
• Hotline: 0987.654.321
• Website: https://xetaihanoi.edu.vn/

Similar Truck Products

• Hyundai Trucks
• Isuzu Trucks
• Hino Trucks
• Fuso Trucks

Car import tax illustration

Imported Toyota Hilux

Truck installment purchase

Conclusion

We hope this article has provided a clearer understanding of how to calculate import taxes on new cars. If you have any further questions, please leave a comment below and XE TẢI HÀ NỘI will be happy to assist you. Don’t forget to visit our website https://xetaihanoi.edu.vn/ for the latest information on the truck market!