VAMA proposes lower registration fee amid slow sales

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VOV News English - 29 month(s) ago 5 readings

VAMA proposes lower registration fee amid slow sales

The Vietnam Automobile Manufacturers' Association (VAMA) has proposed a 5 percent automobile registration fee applied nationwide.

The proposal was made in the face of rising numbers of unsold stocks of local automobile assemblers amid the 20 percent and 15 percent registration fees recently applied in Hanoi and Ho Chi Minh City.

According to VAMA, the collection of a universal fee rate countrywide will help prevent local tax agencies from being overloaded with new car owners, as they will try to attract as many as car owners as possible.

VAMA has just sent a petition to the National Assembly Office and relevant State agencies for the adjustment of policies related to the auto industry.

In particular, the petition seeks the government’s approval on the imposition and recommendation for no new automobile fees in the coming decade, according to Pham Duy Hung, secretary of VAMA.

The petition is aimed at the cancellation of the annual fee set to limit personal vehicles recently proposed by the Ministry of Transport and the postponed road-use fee.

It will help lighten the load of transport fees for both businesses and consumers, VAMA said.

According to the VAMA, in Q1/2012, Vietnam's automobile market decreased by 41 percent over the same period last year, or some 21,331 vehicles.

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