Proposal to change the way car registration fees are calculated

Proposal to change the way car registration fees are calculated 2
Proposal to change the way car registration fees are calculated 2

The Ministry of Finance is seeking opinions on a draft decree amending and supplementing a number of articles of Decree 140 of the Government on registration fees with the direction of correcting the calculation method for pick-up vehicles and vans – content

Specifically, for vehicles with 5 seats or less and with a permitted transport weight of less than 1,500 kg, the first registration fee will be equal to 60% of a car.

Cars are rapidly increasing in number in urban areas like Hanoi.

This time, the drafting agency proposed to maintain the regulation that passenger cars with 9 seats or less pay the first registration fee at a rate of 10%.

Regarding the price for calculating registration fees for cars and motorbikes, the draft also provides more details than the old document.

In case a type of asset is not included in the registration fee price list or the transfer price on the market increases or decreases by 10% or more (instead of 20% as prescribed), the Tax Authority reports.

Previously, according to Decree 140/2016, tax authorities only updated the registration fee calculation price when the vehicle price changed by an increase or decrease of 20% or more.

For example, the registration fee calculation according to the Ministry of Finance’s price list for Toyota Vios is currently the highest at 622 million, while the actual price of this car model for the most advanced version is 586 million.

Besides cars, this draft Decree also has a number of adjustments to regulations related to registration fees of other assets such as boats, aircraft, real estate, yachts…¬†According to the State Budget Law

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