Program of Tax Incentives for Imported Automobile Components

Thuy Phu

14:02, 11/07/2024

This new content has been added to Decree 125/2017/ND-CP amending Decree 122/2016/ND-CP regarding the Export Tariff Schedule, Preferential Import Tariff Schedule, the List of Goods, and Absolute Tax Rates, Mixed Tax Rates, and Import Taxes beyond Tariff Quotas.

from January 1, 2018, the program for a preferential import tax rate of 0% on imported automobile parts applies on the condition that the enterprise commits to producing and assembling automobiles:

- Meets emission standards level 4 (period 2018-2021) and level 5 (from 2022 onward); and,- Achieves the production output as specified in point b.12 clause 3.2 Section I Chapter 98 Appendix II attached to Decree 122 according to the criteria on output and vehicle models.

For automobile parts directly imported by enterprises to produce and assemble automobiles or for automobile parts imported by organizations or individuals authorized by enterprises to import:

- The part is listed under group 98.49 and is not domestically produced;- The parts are completed but not yet assembled, or are not yet complete products but have the basic characteristics of complete products.

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