Is registration fee applicable to yachts in Vietnam?

Is registration fee applicable to yachts in Vietnam?

Based on Article 3 of Decree 10/2022/ND-CP stipulating the subjects liable to registration fees as follows:

Subjects Liable to Registration Fees

1. Houses, land.

2. Hunting guns; guns used for practice or sports competitions.

3. Ships as per the laws on inland waterway traffic and maritime law (hereinafter referred to as ships), including barges, canoes, tugboats, pushboats, submarines, submersibles; excluding floating docks, floating storage, and mobile rigs.

4. Boats, including yachts.

5. Aircraft.

6. Two-wheel motorcycles, three-wheel motorcycles, mopeds, vehicles similar to motorcycles and mopeds required to be registered and plated by competent state authorities (hereinafter collectively referred to as motorbikes).

7. Automobiles, trailers, or semi-trailers pulled by automobiles, and vehicles similar to automobiles required to be registered and plated by competent state authorities.

8. Hulls, complete engine assemblies, body (block) of properties stipulated in Clauses 3, 4, 5, 6, and 7 of this Article that are replaced and must be registered with competent state authorities.

The Ministry of Finance details this Article.

Thus, according to the above regulations, registration fees will apply to yachts.

Is registration fee applicable to yachts in Vietnam? (Image from the Internet)

What is the registration fee rate for yachts in Vietnam?

Based on Article 8 of Decree 10/2022/ND-CP as guided by Article 4 of Circular 13/2022/TT-BTC stipulating the registration fee rates as a percentage as follows:

Registration Fee Rates as a Percentage (%)

1. Houses, land: Rate of 0.5%.

2. Hunting guns; guns used for practice or sports competitions: Rate of 2%.

3. Ships, including barges, canoes, tugboats, pushboats, submarines, submersibles; boats, including yachts; aircraft: Rate of 1%.

4. Motorbikes: Rate of 2%.

Specifically:

a) Motorbikes of organizations or individuals in centrally-run cities; provincial cities; district-level towns where the provincial People's Committee is located, paying the first registration fee at a rate of 5%.

b) For motorbikes paying the registration fee from the second time onward, the rate is 1%. In cases where the owner has declared and paid a registration fee for the motorbike at 2%, and then transferred it to an organization or individual in the locality as specified in point a of this clause, a registration fee rate of 5% will apply.

5. Automobiles, trailers, or semi-trailers pulled by automobiles, vehicles similar to automobiles: Rate of 2%.

Specifically:

a) Passenger cars with up to 09 seats (including pick-up trucks): First registration fee at a rate of 10%. If a higher fee rate needs to be applied to suit the practical conditions of each locality, the provincial People's Council, centrally-run cities will decide on an adjustment increase not exceeding 50% of the general rate stipulated at this point.

b) Pick-up trucks with a permissible cargo load of less than 950 kg and up to 5 seats, VAN trucks with a permissible cargo load of less than 950 kg, pay the first registration fee at a rate equal to 60% of the first registration fee rate applicable to passenger cars with up to 09 seats.

c) Battery electric cars:

- Within 3 years from the effective date of this Decree: First registration fee at a rate of 0%.

- In the subsequent 2 years: First registration fee at a rate equal to 50% of the rate applied to fuel-powered vehicles with the same seating capacity.

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The registration fee rate for yachts is 1%.

What are regulations on declaring and paying registration fees for yachts in Vietnam?

Based on Article 11 of Decree 10/2022/ND-CP regulating the declaration and payment of registration fees for yachts as follows:

- Organizations and individuals shall declare and pay registration fees in accordance with the law on tax administration when registering ownership rights, usage rights of assets with competent state bodies.

- Electronic data of registration fee payments through the State Treasury, commercial banks, or intermediary payment service providers are digitally signed by the General Department of Taxation and supplied to the National Public Service Portal, which has the same value as paper documents for the traffic police agency, environmental resources agency, and other competent state bodies that have connected with the National Public Service Portal to access and utilize data to handle administrative procedures related to the registration of asset ownership and usage rights.