Conditions for Application of the Tax Incentive Program for Automobile Components

21:33, 11/07/2024

Decree 125/2017/ND-CP stipulates a preferential import tax rate of 0% for imported automobile parts under group 98.49 in Section II Chapter 98 of Annex II of Decree 125/2017/ND-CP.

Conditions for the application of the Tax Incentive Program are as follows:

(1) Enterprises must commit to producing and assembling automobiles that meet emission standards level 4 (from 2018 to 2021) and level 5 (from 2022 onwards) and achieving the required production volume as specified in point b.12 clause 3.2 Section I Chapter 98 of Annex II Decree 125;

(2) Automobile components imported directly by enterprises for automobile production and assembly or automobile components imported by organizations or individuals authorized and appointed by enterprises, meeting the following conditions:

- The imported automobile components are listed under group 98.49;- They belong to the category of items not yet produced domestically;- The components (details, cluster details, parts) are products that are either complete but not yet assembled or not complete but have the basic characteristics of complete products with a level of discreteness at least equal to that of imported automobile components as stipulated by the Ministry of Science and Technology regarding the method for determining the localization rate for automobiles and specified in point b.5.2 clause 3.2 Section I Chapter 98 at Section II Annex II Decree 125.

More details can be found in Decree 125/2017/ND-CP effective from January 01, 2018.

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE

0 lượt xem

- This translation is generated by OpenAI's GPT-4o model;
- The legal regulations in this article are according to Vietnamese Law;
- This English translation is for reference purposes only and not a definitive translation of the original Vietnamese texts;
- Articles may be compiled from a variety of sources;
- Applicable Terms may have expired at the time you are reading;
- If you have any questions about the copyright of the article, please contact us via email banquyen@lawnet.vn