MoF to give tax incentives for automobile manufacturers, electric car importsMonday, November 18,2019
AsemconnectVietnam - Prime Minister Nguyen Xuan Phuc has instructed the Ministry of Finance (MoF) to look at taxes and fees related to automobile manufacturing and assembly in order to help the sector grow.
The PM also asked relevant ministries and departments to create good conditions to help the industry “take advantage of latecomers” by developing the local engineering industry and joining the global value chain.
Tax incentives for development
There are 358 businesses in the auto industry, but the country imports over 90 per cent of its auto parts. Most cars sold in the country are foreign brands imported or assembled locally.
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