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Mar 18, 2015

TRUCK MAKERS NEWS * Vietnam - To adjust import tax on complete built up trucks

* Hanoi - Trade deal hurting local auto makers


-- The Vietnam Association of Mechanical Industry (VAMI) has requested the Prime Minister and the Ministry of Finance to adjust the import tax imposed on complete built up (CBU) trucks... This has been requested so the revised tax is more in keeping with tax levied on trucks, which are locally-assembled with imported parts that are complete knock down (CKD)... VAMI said the ministry had allowed a number of imported CBU trucks the kind of preferential tax rate, which is unfair for domestic manufacturers who have been producing and assembling trucks with CKD parts... VAMI pointed out that the aforementioned costs and import tax on CKD have led to local production costs for trucks increasing by 24 per cent, compared with the import of CBU parts. This has created a difference in prices between CKD and CBU imports in the domestic market... (Photo: Ford's Vietnam factory - Workers assemble cars at Ford Viet Nam in the northern province of Hai Duong) --  Hanoi,Viernam - Asia One - Mar 17, 2015

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