Vietnam raises second-hand automobile tariffs

HANOI, May 12, 2008 (Xinhua via COMTEX) -- -- The Vietnamese Finance Ministry has recently decided to raise import taxes on used cars with 15 seats downwards from May 13, local newspaper Pioneer reported Monday.

Specifically, used cars with engine capacity of 2-3 liters will be subject of the new tariff of 17,500 U.S. dollars, instead of 13, 500 dollars. The new tariff on vehicles with engine capacity of 1. 5-2 liters and 2.5-3 liters will rise by 3,000 dollars.

Tariffs on old luxury cars with engine capacity of four liters upwards will remain unchanged.

Vietnam spent 991 million U.S. dollars in importing automobiles, components and spare parts in the first four months of this year, a year-on-year rise of 333.2 percent, according to the General Statistics Office.

Meanwhile, the country imported 28,000 completely-built automobiles worth 483 million dollars, posting respective surges of 651.2 percent and 471.3 percent.

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