Vietnam Auto Parts Tariff To Rise
Sharply.
Autoparts Report • March 4, 2003 • Vietnamese Ministry of Finance suggests auto part
tariff hikes
Vietnam's Ministry of Finance has proposed a graduated
increase in auto part tariffs to a ceiling of 50 percent by 2005
The government agency has recommended that the import tax on auto
components, currently at 20 percent, rise to 30 percent by April 1,
2003, 40 percent by January 1, 2004, and 50 percent by the following
year, according to sources in Vietnam. Previously, the tariff hike was
to have taken place all at once.
Vidamco, or Vietnam Daewoo Motor Co, is a member of the Vietnam
Automobile Manufacturers Association (VAMA) that lobbied against the
tariff increase. Other members are Germany's Mercedes-Benz and
Japan's Toyota Motor Co.
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