From March 1, the registration fee rate for land and houses will be 0.5 percent of registration fee calculation prices set by provincial-level People’s Committees, according to Decree 10 recently issued by the Government.
As for hunting rifles and guns used for training and sports competition, the registration fee will be 2 percent of their market prices. For vessels, including barges, speedboats, tugboats, submarines, submersibles, yachts and aircraft, the fee rate will be 1 percent of their actual transfer prices.
Registration fees for motorbikes, automobiles and automobile-like vehicles will be determined based on the registration fee calculation prices listed by the Ministry of Finance.
Specifically, the registration fee rate for motorbikes will be 2 percent. For motorbikes of organizations and individuals in centrally run cities, cities and townships where People’s Committee head offices are located, the registration fee rate for first-time registration will be 5 percent. From the second-time registration onward, the registration fee rate will be 1 percent.
For automobiles, trailers and semi-trailers, the fee rate will be 2 percent. For vehicles with 9 seats or less, including also pick-ups, the first-time registration fee will be paid at the rate of 10 percent.
When necessary, provincial-level People’s Councils will decide to apply higher registration fee rates to suit practical local conditions, which, however, must not exceed 50 percent of common fee rates.
For pick-up trucks with a permissible transport load of under 950 kg and with five seats or less and vans with a permissible transport load of under 950 kg, the first-time registration fee rate 60 percent of the first-time registration fee rate for passenger cars with 9 seats or less.
Worthy of note, within three years from March 1, 2022, battery-powered electric cars will be exempt from their first-time registration fee, and liable to half of the fee rate applicable to petrol or diesel-fueled cars with the same number of seats for the next two years.
The registration fee for aforementioned assets is limited to the maximum level of VND 500 million per registered asset, except passenger cars with 9 seats or less, aircraft and yachts.- (VLLF)
