2020 Used Truck Registration Tax in Hanoi: What to Know

Mr. Tuan, a construction material supplier in Cau Giay District, Hanoi, firmly believes in good fortune and auspicious practices. With his business thriving, he decided to upgrade his truck for increased efficiency. After consulting friends and feng shui experts, he chose a used 2020 Hyundai HD800 truck with a lucky “triple number” license plate from a reputable dealership on Le Van Luong Street. He believes this truck will not only meet his transportation needs but also bring luck and prosperity to his business.

Mr. Tuan’s story illustrates that buying a used truck is not just about choosing a vehicle but also involves spiritual and feng shui elements. One crucial aspect to consider when purchasing a used truck is the registration tax. So, how is the registration tax for a used truck from 2020 calculated? Let’s delve into the details with Hanoi Trucks.

What is the 2020 Used Truck Registration Tax?

The 2020 used truck registration tax is a levy that the owner must pay when first registering the vehicle’s name change at the competent authority. This tax is calculated based on the vehicle’s value and the place of registration.

How to Calculate the 2020 Used Truck Registration Tax

Formula for calculating registration tax:

Registration Tax = Vehicle Value x Tax Rate

Where:

• Vehicle Value is the value determined by the local tax authority, often lower than the market value.
• Tax Rate applied to used trucks manufactured in 2020 is 2% in Hanoi and some other provinces.

Example: Mr. Tuan bought a used 2020 Hyundai HD800 truck for 500 million VND and registered it in Hanoi. Assuming the local tax authority assessed the vehicle’s value at 400 million VND. Mr. Tuan must pay the following registration tax: 400,000,000 VND x 2% = 8,000,000 VND.

Important Notes on Calculating 2020 Used Truck Registration Tax

• The tax rate may vary depending on the time and location. You should contact the local tax authority or consult reputable truck dealers like Hanoi Trucks for the most accurate information.
• The vehicle value determined by the local tax authority is often lower than the market value.
• In addition to the registration tax, when buying a used truck, you also have to pay other fees such as license plate registration fees, civil liability insurance, road maintenance fees…

Frequently Asked Questions about 2020 Used Truck Registration Tax

Is there a reduction in the 2020 used truck registration tax?

Currently, there is no policy to reduce the 2020 used truck registration tax.

If I buy a used truck in installments, do I have to pay the registration tax?

Yes. Whether you buy a used truck in installments or outright, you still have to pay the registration tax.

Where do I pay the 2020 used truck registration tax?

You can pay the registration tax at the district/county tax branch where you have permanent or temporary residence registration.

Buy Used Trucks at Hanoi Trucks

Hanoi Trucks specializes in providing a wide range of used and new trucks from reputable brands at the most competitive prices in the market. At Hanoi Trucks, you will receive:

• Dedicated and thoughtful advice from a team of experienced professionals.
• Support for all purchase, transfer, and ownership change procedures quickly and conveniently.
• Reliable and high-quality vehicle warranty and maintenance services.

Contact Hanoi Trucks now for advice and to own your dream truck!

Similar Products

In addition to the Hyundai HD800 truck, Hanoi Trucks also offers a variety of other used truck models such as:

• Hino Trucks
• Isuzu Trucks
• Kia Trucks
• Thaco Trucks
• …

Conclusion

We hope this article has provided you with useful information about the 2020 used truck registration tax. If you have any further questions, please contact Hanoi Trucks for more detailed advice.

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We wish you the best of luck in finding your ideal truck and achieving business success!