The Ministry of Industry and Trade has proposed non-imposition of excise tax on locally made auto parts in order to bring the prices of cars, especially assembled ones, more accessible to customers.

This article provides tax and customs procedures for a foreigner working in Vietnam who wishes to import his/her motorcycle into Vietnam for personal movement purpose.

Deputy PM Vuong Dinh Hue has instructed the Ministry of Finance to complete a list of imported goods subject to customs procedures at border gates of importation to be submitted to the Prime Minister for promulgation in March.

Deputy PM Trinh Dinh Dung has asked the Ministry of Industry and Trade and relevant agencies to study the possibility of applying safeguards to protect the domestic automobile manufacturing industry from looming zero-tariff car imports.

From September 1, every overseas Vietnamese who is permitted to register permanent residence in Vietnam or is an intellectual, an expert or a skilled worker entering Vietnam to work for at least one year at the invitation of a Vietnamese state agency may no longer import free of duty one car or motorcycle as his/her personal effects.

The Government has recently issued a decree revising a number of tax-related policies, aiming to create more favorable conditions for enterprises.

Small- or medium-sized enterprises with an annual turnover of VND 20 billion or less would be likely to enjoy an incentive corporate income tax (CIT) of 17 percent for four years from January 1, 2017, through December 31, 2020, instead of the current 20 percent.