Vietnam Levies Absolute Import Duties on 10-15 Seated Second-Hand Vehicles

Vietnamese government decides to adopt absolute import duties from August 15 this year on import second-hand vehicles under HS Codes 8702 and 8703 in its preferential tariff, details as follows:

1. HS Code 8703-covered import second-hand vehicles with no more than 9 seats (including the driver seat): USD 3,500 on each vehicle with less than 1,000CC displacement; USD 8,000 on each with less than 1000CC-1500CC displacement; USD 5,000+X (X is taxable price times duty rate on new vehicle of the same type) on each with 1,500CC-2,500CC displacement; and USD 15,000+X on each with over 2,500CC displacement.

2. HS Code 8702-covered second-hand vehicles with no more than 10-15 seats (including the driver seat): USD 9,500 on each with less than 2,000CC displacement; USD 13,000 on each with 2,000CC-3,000CC displacement; and USD 17,000 on each with over 3,000CC displacement.