Draft on import tax reduction for trucks may harm domestic production

15:05 | 22/10/2010
Hanoi – A plan to reduce import taxes on trucks proposed by the Ministry of Finance could harm the domestic automobile industry, said auto firms and experts.

The Ministry of Finance has been collecting opinions concerning its draft that proposes cutting import taxes on trucks from the Viet Nam Association of Automobile Producers and the Ministries of Industry and Trade, Planning and Investment, and Transport.

In accordance with the plan, tariffs would be cut by 80 per cent to 30 per cent for five-tonne trucks, from 54-55 per cent to 25 per cent for five to 10-tonne trucks, from 30 per cent to 25 per cent for 10 to 20-tonne trucks, from 15 per cent to 8 per cent for 20 to 45-tonne trucks.

These low tariffs that would be implemented without a long-term schedule is not suitable with conditions that would help develop domestic auto production, which would lead to the closure of local factories, said general director of the Xuan Kien Vinaxuki Automobile Joint Stock Company Bui Ngoc Huyen.

VNS

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