Vietnam Truck Taxes: Your 2023 Guide

My friend Tuan, from Thanh Tri, finally fulfilled his dream of owning a Hyundai Mighty 75S truck after years of saving. He even consulted a fortune teller to pick an auspicious day and a “lucky” color for the truck. The day he brought it home was a celebration, with friends and family gathering like it was a festival. I asked him, “Why not buy a car? It’s more comfortable.” He laughed, “A truck is better for hauling goods, and it aligns with my ‘Metal’ element, promising prosperity and good fortune in business.” Indeed, his business has flourished since he got the truck.

Tuan’s story reminds me of a crucial question for any vehicle buyer: taxes. So, what are the truck taxes in Vietnam? This article provides detailed and updated information.

Types of Truck Taxes in Vietnam

1. Special Consumption Tax (SCT)

This tax applies to specific goods and services, including automobiles. The SCT rate for trucks depends on engine capacity and vehicle type.

• Under 1,500cc: 40%
• From 1,500cc to 3,000cc: 60%
• Over 3,000cc: 150%
• Pickup Trucks: 15%

A red Hyundai Mighty 75S truck parked on a paved road.

2. Value Added Tax (VAT)

The current VAT rate for automobiles is 10%. VAT is calculated on the vehicle’s value, including the SCT.

3. Registration Fee

This is a mandatory fee for registering a new vehicle. The current registration fee is 10% for domestically manufactured or assembled cars and 12% for imported cars.

Example: If you buy a Hyundai H100 truck (assembled in Vietnam) with a listed price of 400 million VND, the total taxes payable are:

• SCT: 400 million * 15% = 60 million VND
• VAT: (400 million + 60 million) * 10% = 46 million VND
• Registration Fee: 400 million * 10% = 40 million VND

Total: 60 million + 46 million + 40 million = 146 million VND

Important Notes on Vietnam Truck Taxes

• Tax rates are subject to change based on government policies.
• Besides these main taxes, there might be other fees like license plate fees, inspection fees, etc.
• For detailed advice on truck purchase procedures, contact reputable truck dealers in Hanoi like Ô Tô Thái Phong, or refer to the article Truck Registration Procedures.

A person holding documents while standing in front of a truck, illustrating the vehicle registration process.

Frequently Asked Questions (FAQs)

1. What is the truck registration fee?

The truck registration fee in Hanoi and other provinces is 2% of the vehicle’s value.

2. What are the procedures for buying a truck on installment?

You need to provide documents proving your income and collateral, and follow the instructions of the bank or lending company.

3. Should I buy a used truck?

Buying a used truck can save you money, but thoroughly inspect its condition before purchasing.