Second-hand cars are to face a higher import tax from May 13, according to the latest decision of the Finance Ministry late last week.

Cars of 2.0-3.0 litre cylinders are to bear the highest tax, from US$ 13,000 to US$ 17,000, up by US$ 3,500.

Tax imposed on cars of 1.5-2.0 litre and 2.5-3.0 litre cylinders are to see a tax increase of US$ 3,000 each.

Import tax on luxurious and super cars which have cylinders of 4.0 litres and higher will stay unchanged.

The Finance Ministry said that the increase was due to the government’s instruction on easing the traffic situation.

The ministry is working on solutions for the increase in special consumption tax, which is supposed to jump from 50% to 70% on cars.

Brand new cars previously saw import tax climb to 83% from 70%.

Source: TP

Translated by Hoang Anh