The prices of domestically assembled automobiles are expected to go down once the luxury tax policy is amended. Strategic small-capacity and fuel saving models will be given priority.

Vietnam’s automobile industry had a prosperous year 2020 despite COvid-19. Manufacturers scaled up production, and new investors appeared.

The decision on allowing car manufacturers to extend the luxury tax payment deadline will help them maintain cash flow amid the Covid-19 pandemic and stimulate demand.

With a huge numbers of users, mobile network operators are tapping the financial service market, the major field of fintechs.

The HCMC People’s Committee believes that mobile phones must bear a luxury tax or special consumption tax (SCT) as it is called in Vietnam.

VietNamNet Bridge - Analysts say the automobile market in 2019 will witness the launch of a series of mid-end models with modern technologies and reasonable selling prices.

VietNamNet Bridge - Experts have pointed out that it is unreasonable to impose low tax on discouraged products such as beer while imposing high taxes on milk. 

VietNamNet Bridge - Only foreign-invested automobile manufacturers can benefit from the current investment incentives, while Vietnamese automobile cannot grow, experts say.

VietNamNet Bridge - Low-cost cars with low cylinder capacity are expected to flow to Vietnam thanks to an advantageous luxury tax.

VietNamNet Bridge - Listed among the four least developed countries in ASEAN, Vietnam is one of the world’s biggest luxury goods markets.

VietNamNet Bridge – A proposed luxury tax on online games has spread fear among gaming companies, who believe smuggled products would ruin their business if the tax becomes law.

 VietNamNet Bridge – The Ministry of Health has proposed to raise the tax rates on tobacco to 105% in 2015 and 145% in 2018.