Image may be NSFW. Clik here to view.  A diplomatic car parked on a The Ministry of Finance is seeking government approval to reduce the tax burden on locals who have bought cars from diplomats to encourage them to register the cars in their own names. Last April, the Ministry of Public Security said local owners of cars with diplomatic license plates had to complete ownership transfer procedures by June 10. However, as of August 15, the new owners of only 126 of the 1,200 diplomatic cars that have been sold to locals had attempted to obtain civilian license plates. In order to do so, a new owner must pay taxes that are equal to, or even higher than, the cost of the car itself. N.V.T. of T. said that because the Finance Ministry requires that the tax must be calculated from the moment the car was transferred to him, he owes more than VND1.4 billion (US$66,272) on the Mercedes Benz he bought in 2004. The car’s value, however, is currently just VND500 million ($23,668). “I’d rather not use it or give it to the government, and use that money to buy another car,” he said. Do Hoang Anh Tuan, deputy minister of finance, said the ministry will call on the government to apply a new tax rate to give car owners more incentives to carry out the procedures. Tuan said if the proposal is approved, those who have already paid the hightax would receive refunds to ensure fairness. According to government figures, around 4,000 cars had been imported into Foreigners and diplomats are allowed to import cars tax-free for personal use, and are respectively issued license plates marked NN (black) and NG (red). When their tenure ends the owners have to take the cars out of By Vietweek Staff, Thanh Nien News |
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